Buhari says Nigeria faces worst economic situation in its history

Nigeria's President Muhammadu Buhari is seen on arrival for the international mediation on Gambia election conflict in Banjul, Gambia December 13, 2016 (REUTERS)

Nigeria's President Muhammadu Buhari said on Wednesday the country was facing the worst economic situation in its history, in a speech to lawmakers to present the 2017 budget.

Africa's biggest economy is in recession for the first time in 25 years, largely brought on by low oil prices. The OPEC nation relies on crude oil sales for two-thirds of government revenue.