‘Tis the season for recaps and forecasts, for giving thanks and looking back. And while no gift can compare to a Stears Business Premium subscription, I thought it would be nice to look back at what happened in the Nigerian economy in 2020.
A lot has happened, as you can imagine. So, I selected what I consider to be the five most important economic stories in the year, using interesting graphs as our guide down memory lane.
Here you go then: the five things that happened in the Nigerian economy in 2020.
#1 Global oil prices go negative
On the 20th of April 2020, sellers offered buyers up to $37 to take crude oil off their hands. Even in a year as strange as 2020 has been, negative crude oil prices are a pretty memorable event.
It all started so well as well. Brent crude, the crude oil grade used as a benchmark by Nigeria and