Showing posts with label Nigerian economy. Show all posts
Showing posts with label Nigerian economy. Show all posts

Monday, November 17, 2014

FG introduces austerity measures as drop in oil price in int'l market poses threat to Nigerian economy


Following the continued drop in oil price in international market, the Federal government 
yesterdayannounced the introduction of some austerity measures such as tax introduction on luxury goods such as champagne, jets, amongst other, to be implemented to reduce the effect of the continued oil price decline on the Nigerian economy as Nigeria is largely an oil dependent economy.