1981Landmark
Oil-price weakness punctures Second Republic budgets
The oil boom faded while import-heavy spending and ambitious projects continued.
Hall of FameSecond Republic
1981
Oil-price weakness punctures Second Republic budgets
The oil boom faded while import-heavy spending and ambitious projects continued.
1000reasons.voteEditorial timeline entry
What happened
The oil boom faded while import-heavy spending and ambitious projects continued. Revenue decline quickly translated into debt, arrears, and pressure on state services.
Photo: Seven Ways Zaria, 062-335879 · Source
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