NIGERIA: OIL SECTOR ASSET SELL-OFFS MIGHT AVERT FEARS OF ‘BANKRUPTCY’

NIGERIA: OIL SECTOR ASSET SELL-OFFS MIGHT AVERT FEARS OF ‘BANKRUPTCY’

   Tue, 02 July 2019

In President Buhari’s second term, the government will continue to prop up the local currency and maintain costly subsidies, policies which have fostered massive fraud and embezzlement and undermined economic recovery. As the budget deficit widens, debt servicing spikes, and some banks again face non-performing loans, there are growing concerns that Nigeria may be running into ‘bankruptcy’. However, oil sector state asset sell-offs might be sufficient, at least in the short term, to stave off another recession or liquidity crisis.



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