I do believe that third quarter 2014 the
global economy experience a cyclical drop in
oil demand that triggered the
price crash.
In the light of the
crash in
global crude
oil price, which is Nigeria's main foreign exchange earner, the devastating actions of aggrieved militants on
oil and gas infrastructure in the
oil - rich Niger Delta which has resulted in lock - in or leakages of crude
oil, sometimes in excess of one million barrels that could have been exported daily, and the consequential rapid decline in the well - being of the masses, the urgency to fix the Nigerian economy by changing tactics from sole reliance on
oil, becomes more poignant and urgent, hence the need for international experts to aid diversification efforts of the government.