These are unprecedented times due to the Corona virus. The world oil industry is facing ridiculous fall in price. The most hit is the United States Shale oil which has falling below $0 per day to -$37 meaning that people are now being paid to take the oil even when they don't need it. Brent rude is currently at $26 per barrel. Africa 's biggest economy and poverty capital of the world will be grossly affected. Nigeria is faced with dire consequences and would need the oil price to be in the region of $80 per barrel. Unfortunately, dwindling oil revenue means budget cuts and possibly shrinking Aggregate Demand. The country had requested for an emergency loan of $7Billion from the IMF and the World Bank to balance her budget. (Aljazera).