Former Minister of Aviation Femi Fani-Kayode has lamented the drop in global crude oil prices following the outbreak of the coronavirus (COVID-19) pandemic.
Naija News reports that in the history of trading US crude, West Texas Intermediate for the first time, its benchmark, is trading in negative territory.
Yesterday, at 8:22 pm, US WTI was trading at $-37.45 per barrel. 
The prices were displayed on Bloomberg energy terminal.
In a post on his Twitter page on Tuesday, Fani-Kayode revealed that Nigeria crude oil is now trading at $11 USD dollars per barrel;
He lamented that the country was heading for not just a recession but a full-blown depression
Fani-Kayode wrote: “Nigerian crude oil is now trading at $11 USD dollars per barrel whilst it costs almost $30 to produce that same barrel. We are in a mess!”
“Our nation is in trouble and we are heading for not just a recession but a full-blown depression. Nigerians need to brace up for the worse!” Fani-Kayode added.
The post Crude Oil: Nigeria In A Mess, Heading For Depression – Fani-Kayode appeared first on Naija News.
