{UAH} President Buhari tells UNFP officials his country is broke
President Muhammadu Buhari has admitted to United Nations Population Fund officials that his country is broke and going through hard financial times due to ever dipping oil prices.
The west African nation, the world's sixth largest oil producer, relies heavily on oil revenue, but the income from the natural resource has plummeted in the last one year causing severe foreign exchange scarcity.
President Buhari said Nigerians were suffering because of the sudden drop in the price of crude oil in the international market.
"Before we came to office, petroleum sold for about $100 per barrel, then it crashed to $37, and now oscillates between $40 and $45 per barrel."
However, President Buhari said his administration would not relent on its commitment to transparency and accountability.
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