President Muhammadu Buhari and other government officials on the helm of finance of Nigeria have convened a meeting amidst crashing crude oil price. At the meeting were; Minister of Finance, Budget and National Planning, Zainab Ahmed; Minister of State for Petroleum, Timipre Sylva; and Minister of State, Budget/National planning, Clement Agba.
Others include the governor of the Central Bank of Nigeria(CBN), Godwin Emiefele; and the Group Managing Director of the NNPC, Mele Kyari.
The emergency meeting was convene following the crashing of the crude oil price to as low as $30 per barrel at the world market when the Nigerian budget for the year 2020 was pegged on $57 per barrel.
The outbreak of the Corona Virus in Wuhan, China was alleged to be responsible for the crash in the world oil market.
The crash in the oil price must have sent shivers down the spine of the Federal Government, leaving it in a confused state on how to fund the year 2020 budget of the N10.9 trillion, which already has N2 trillion deficit.
