The cost of Nigeria’s oil dependency

&Tab;&Tab;<div class&equals;"wpcnt">&NewLine;&Tab;&Tab;&Tab;<div class&equals;"wpa">&NewLine;&Tab;&Tab;&Tab;&Tab;<span class&equals;"wpa-about">Advertisements<&sol;span>&NewLine;&Tab;&Tab;&Tab;&Tab;<div class&equals;"u top&lowbar;amp">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;<amp-ad width&equals;"300" height&equals;"265"&NewLine;&Tab;&Tab; type&equals;"pubmine"&NewLine;&Tab;&Tab; data-siteid&equals;"111265417"&NewLine;&Tab;&Tab; data-section&equals;"2">&NewLine;&Tab;&Tab;<&sol;amp-ad>&NewLine;&Tab;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;&Tab;<&sol;div>&NewLine;&Tab;&Tab;<&sol;div><p><a href&equals;"http&colon;&sol;&sol;londonglossy&period;com&sol;wp-content&sol;uploads&sol;2015&sol;02&sol;image30&period;jpg"><img src&equals;"http&colon;&sol;&sol;londonglossy&period;com&sol;wp-content&sol;uploads&sol;2015&sol;02&sol;image30&period;jpg" alt&equals;"image" width&equals;"600" height&equals;"325" class&equals;"aligncenter size-full wp-image-68795" &sol;><&sol;a><&sol;p>&NewLine;<p>As Nigerians prepare for presidential elections&comma; the armed group Boko Haram&comma; corruption and falling oil prices are some of the issues worrying Africa&&num;8217&semi;s most populous nation&period;<br &sol;>&NewLine;More than 90 percent of the country&&num;8217&semi;s revenues come from exporting oil&period; But oil has lost almost 60 percent of its value over the last six months&period;<br &sol;>&NewLine;However&comma; Africa&&num;8217&semi;s biggest economy has managed to weather the economic storm created by plunging oil prices and currency devaluation&colon; The central bank devalued the currency and raised interest rates in November&period;<&sol;p>&NewLine;<p>It followed up by not raising interest rates any further&comma; and has been burning through its cash reserves as well to prop up the currency&period;<br &sol;>&NewLine;So&comma; what is the cost of Nigeria&&num;8217&semi;s high reliance on oil revenues&quest; How are currency devaluation&comma; falling oil prices&comma; and rising inflation affecting ordinary Nigerians&quest; And will President Goodluck Jonathan win the election&quest;<br &sol;>&NewLine;Yvonne Ndege reports from Abuja on the impact of plunging oil prices&period;<br &sol;>&NewLine;Akpan Hogan Ekpo&comma; the former director of the Nigerian Central Bank&comma; who is also the director-general of the West African Institute for Financial and Economic Managment&comma; joins the debate&period;<&sol;p>&NewLine;<p>TTIP&colon; The mother of all trade deals&quest;<&sol;p>&NewLine;<p>The Transatlantic Trade and Investment Partnership &lpar;TTIP&rpar; is a trade agreement to be negotiated between the European Union and the United States&comma; forming what would be&comma; in effect&comma; the world&&num;8217&semi;s biggest trading bloc&period;<br &sol;>&NewLine;It could create millions of new jobs and increase trade by billions of dollars &&num;8211&semi; a much needed stimulus for the global economy&period;<br &sol;>&NewLine;But many are not convinced and say it is undemocratic and will only increase the power of big business&period;<br &sol;>&NewLine;Laurence Lee brings a special report on the topic&period;<br &sol;>&NewLine;Beyond black gold<&sol;p>&NewLine;<p>When oil prices are high&comma; economies typically try to switch to alternative energy sources&period; But right now&comma; prices are low&comma; which should mean oil becomes more attractive&period;<br &sol;>&NewLine;But it seems even OPEC members are looking beyond black gold this time&comma; as rising populations and increasing consumerism are leading to more energy consumption as a whole&period;<br &sol;>&NewLine;So is solar energy the way forward&quest; Can solar power replace oil in the Middle East&quest;<br &sol;>&NewLine;Vicente Lopez-Ibor Mayor&comma; the chairman of Lightsource Renewable Energy&comma; who was previously with the National Energy Commission of Spain&comma; talks to Counting the Cost about alternatives energy&period;<&sol;p>&NewLine;&Tab;&Tab;&Tab;<div style&equals;"padding-bottom&colon;15px&semi;" class&equals;"wordads-tag" data-slot-type&equals;"belowpost">&NewLine;&Tab;&Tab;&Tab;&Tab;<div id&equals;"atatags-dynamic-belowpost-68ed108a729e5">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;<script type&equals;"text&sol;javascript">&NewLine;&Tab;&Tab;&Tab;&Tab;&Tab;&Tab;window&period;getAdSnippetCallback &equals; 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