OYOGist.com has learned that while Nigerians are still complaining about a harsh economy in the country, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mr. Mele Kyari has disclosed that the economic situation in the country would become more unsavoury following the latest crash crude price, which is caused by the Coronavirus outbreak.
Justifying the chances of the imminent economic challenging situation for Nigerians. Mr. Kyari said as a result of the Coronavirus outbreak, about 50 cargoes of crude oil were yet to find a landing.
Explaining the implication of this, the NNPC boss who disclosed this at the Central Bank of Nigeria RoundTable discussion in Abuja Wednesday, noted that there are no off-takers for the vessels for now due to drop in demand.
Kyari further disclosed that there are over 12 stranded LNG cargoes in the market globally with no hope of being bought, which according to him has never happened before.
He ascribed the development to an unexpected fall in demand, which according to him is in connection with the Coronavirus outbreak.