Author: Sani Nura

NIGERIA and other oil-producing countries in Sub-Saharan Africa are to expect dwindling oil revenues in the coming years as the world transitions from fossil fuels to cleaner energy, the International Monetary Fund says in a new report. In a new report titled “Savings from Oil Revenues Could Help Africa’s Producers Manage Price Swings,” the fund urge oil exporters in sub-Saharan Africa should target buffers of around 5 to 10 per cent of gross domestic product to manage large swings in oil prices. According to the report, most oil exporters in the region have not accumulated enough savings to insure against…