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Vol 43 No 18

Published 13th September 2002


Nigeria

Running on empty

Is the money running out, or might an oil war happen in the nick of time?

Iraq could yet rescue President Olusegun Obasanjo. The prospect of an United States invasion there is driving up the world price of oil, and oil contributes over 75 per cent of Nigerian government revenues. The rise follows a year during which those revenues were down, on official figures, by about 40 per cent. Economic strategies have unravelled, political tensions are reaching crisis point and general elections are less than nine months away.

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