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Nigeria faces big oil price risk Sanusi

“There will be a very bad day and a lot of gnashing of teeth if the oil price crashes and we haven’t saved a thing,” Sanusi Lamido Sanusi, said. Nigeria is said to be one of the world’s fastest-growing economies - gross domestic product expanded by more than 7 percent last year - and foreign investors have poured money into its financial markets to take advantage of high interest rates. But it remains dependent on oil production which accounts for about 80 percent of government revenues, Sanusi said ...
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Added April 16, 2012
from Daily Trust