New Team To Tackle Nigeria Crisis

Rebels in Nigeria's Oil Region

From The BBC:

Nigeria's President Umaru Yar'Adua has put together a new team of economic advisers to tackle a looming financial crisis after the oil price collapse.

Falling revenues have led to a 20% slump in the value of its currency, the naira, in recent weeks.

Until now Nigeria had mostly escaped the effects of the first months of the global financial crisis.

But President Yar'Adua has warned that there are tough times ahead for Africa's largest oil exporter.

"We are saddled with the twin task of maintaining macroeconomic stability in an environment of global economic meltdown, delivering shared prosperity to our citizens in the face of dwindling national revenues," President Yar'Adua said.

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