All oil producers are getting 17.1. [vähemmän] dollars per barrel these days, but Nigeria has a bigger problem: militants have stepped up an attack 17.2. [prepositio] pipelines and export terminals, 17.3. [cut] the country’s oil production by thirty percent since January, to 1.4 million barrels a day, a three-decade low. As 17.4. [öljytulot] has dried up, so has the country’s supply of dollars, which it needs to pay for $22 billion in food it imports each year. Double-digit inflation has set in, leading the central bank in June to deregulate the 17.5. [valuutta], the naira, which has since crashed forty percent against the dollar. Nigeria is now poised to enter its first recession since 1991.

Infrastructure is in tatters, and blackouts are becoming more common. Islamist militant group Boko Haram has wreaked havoc in the 17.6. [koillinen], killing tens of thousands of people and leaving a lot of children in need of food.

Although Nigeria was always going to suffer from a drop in oil prices, the government’s bungled response has made it worse, says Martina Bozadzhieva, an analyst at Frontier Strategy Group. President Muhammadu Buhari 17.7. [elect] last year on a wave of optimism that he would fight corruption and 17.8. [elvyttää] the economy. He took almost six months to form a cabinet and 17.9. [ei hyväksynyt] the 2016 budget 17.10. [ennen kuin toukokuussa].


Lähde: Bloomberry Businessweek, September 26 – October 2, 2016