Nigeria is Africa’s biggest oil producer. But the fall in crude oil prices has Nigerians preparing for a below average economy this year. Nigeria’s economy has long been linked to oil. The country now produces more than two million barrels of oil a day. Experts are worried, however, because crude oil prices have fallen below $30 a barrel. In 2014, oil was still valued at over $100 a barrel. Nearly 70 percent of the Nigerian government’s revenue comes from the sale of oil. Oil makes up over two-thirds of Nigeria’s exports. That puts the country in a difficult position, according to energy experts. “Oil is basically government’s main source of revenue of running the economy, or running the budget,” said Dolapo Oni, Ecobank’s Head of Energy Research. When elected in 2015, President Muhammadu Buhari promised to provide jobs and to stop corruption.

What does crude mean?
unprocessed
a form of measurement
paid by the government
a business organization
What does Nigeria produce?
sugar
cotton
oil
coffee
Most of the Nigerian government's revenue comes from the sale of oil.
system
politics
trade
revenue