/ 6 April 2022

Nigeria’s economy short circuits despite oil gains

Nigeria Maritime Transport
An aerial view of trucks parked on the road side waiting to get access into Tincan port in Apapa, Lagos, on January 11, 2021. - At the beginning of 2020, just before the coronavirus crisis, 99% of exports and more than 89% of imports passed through the seas, almost exclusively via Lagos. After oil, the port of Lagos, which stretches from Apapa to Tin Can island, is the second largest source of income for the African giant. (Photo by Benson Ibeabuchi / AFP) (Photo by BENSON IBEABUCHI/AFP via Getty Images)
Africa’s largest oil producer has not been able to cash in fully on the price rally because of lacklustre production and its reliance on imported fuel

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