The OPEC production cuts to support prices look under threat as production figures start to be released.
Libya has released enough product onto the market to more than compensate for the gradual Russian cuts.
This is bad news for the Federal Government and Ibe Kachikwu who touted the OPEC production cut as a saviour for Nigerian finances.
What happens when this deal disintegrates as countries refuse to cooperate and breach their quota levels?
Things could be slowly unraveling and it could potentially be catastrophic for Nigeria’s finances.
Over the coming summer months, we will discover whether Kemi “the village bean counter” Adeosun’s statement in April 2017 that Nigeria was entering recovery, is due to her fine governments policies NOT the OPEC agreement is true.
If I were her, I would not be sleeping soundly.