Hard times ahead, CBN warns Nigerians…says low oil revenue to linger

The Monetary Policy Committee of CBN on Tuesday warned Nigerians to brace for a longer period of low revenue from oil sources, which would necessitate hard and uncomfortable choices.

The committee, in a communique issued at the end of its first meeting for the 2016 fiscal period in Abuja, observed that while the period of low oil prices, which occurred in 2005, lasted for a maximum of 8 months.