Price volatility is a constant feature of the oil market, exposing oil-dependent countries like Nigeria to regular economic crises when oil prices tumble. Beyond surviving the latest oil price slump largely occasioned by COVID-19, Nigeria needs a sustainable strategy for coping with oil price shocks.
United Bank for Africa Plc (UBA), the leading pan-African financial services group, is pleased to announce the appointments of Ayoku Liadi and Oliver Alawuba as Deputy Managing Directors in charge of UBA's Nigeria and Africa businesses, respectively.
A wild 24 hours brought a tidal wave of pipeline news to start the week. Meanwhile, oil prices continue to be range bound, with WTI trading right around $40 per barrel and Brent just a little bit higher. For now, crude appears stuck between worrying Covid-19 news and a weak economy on the one hand, and tightening oil market fundamentals on the other.