Global crude oil prices finally surpassed Nigeria’s budgetary benchmark, yesterday, trading above $39 per barrels.
This came as experts on the economy have cautioned the Federal Government to be frugal with the revenue accruing from the rise in oil price, so as to steer the country from the current economic downturn.
The price of Brent crude, the global oil benchmark, rose to an all-year high of $39.50 on yesterday, from $27.10 on January 20, the lowest for Brent in 2016.
The price of Nigeria’s crude has not been quoted by the Central Bank of Nigeria (CBN), but sources say the price may surge to the budget benchmark region of $38.
Nigeria’s 2016 budget was benchmarked at $38 per barrel against major criticism across the nation, following December 2015 prices of about $34 per barrel.
-Vanguard
The 2016 budget is indeed achievable!
Hmmm.... I just dey observe!
ReplyDeleteI hate to read about this stuff..am not a fool anylonger.so no one can blind-fold or hoodwink me about oil price.who is fooling who
ReplyDeleteTalk abt Dollar,is Dollar our currency? Then who is a monkey*rising above challenges joor*
Mc pinky
Dollar isn't your currency but the only items you export which is crude oil is what controls the economy. Crude oil is bought with dollar so there by controlling how the economy goes
DeleteHi Stella. How do I send my daughters picture to you. Its her birthday on Saturday. Sweet sixteen. I would like to post some recharge cards. Sent a mail it bounced back. Thanks
ReplyDeleteSdmikokorkus@gmail.com
DeleteIs she beautiful? I am 19
DeleteSee thief oo
DeleteAchievable or not, this is the time to diversify. What is the guarantee it won't drop again? This is not a time for oil prospecting in the Chad basin. Diversify the economy for crying out loud. Mining, agriculture, tourism... Nigeria is blessed. oil should be our forte...eeeissssh.
ReplyDeleteOnly God knows why the government finds it hard diversifying to other areas.
DeleteDiversifying the Economy is the major thing this government wants to achieve. It is not a one day thing, the previous governments we have had did nothing towards that. Buhari is trying but the majority of Nigerians want things to be done quick quick so they pressure the government to bow for this pressure.
DeleteNothing good comes easy! Patience people! Endurance! Support your president.
If you read Kemi Adeosuns article last week, you will understand that the government is diversifying our economy so we won't be fluctuating like oil price. @Gbogbo biz girl.
Oh hail thee nija
ReplyDeleteYeey,.may God continue to help us
ReplyDeleteSo Peruvian hair cost more and we will still carry like 3 barrels on our head ! Hehehe
ReplyDeleteLMAO
DeleteCan u imagine a whole country putting all their eggs(budget) in one basket(oil). That's so unintelligent.
ReplyDeleteYet,you all hail GEJ, OBJ etc.
DeleteWhat did they do for 16yrs? And Nigerians say they want corruption back!
Amen
ReplyDeleteCan u imagine a whole country putting all their eggs(budget) in one basket(oil). That's so unintelligent.
ReplyDeleteIt has been like dat for a very long time.
DeleteSo help us God
ReplyDeleteGood to know
ReplyDeleteHope it keeps going up.
ReplyDeleteIs this the result of Buhari recent trip to Saudi?
This is a very good news o. Abeg let the increase continue o jare
ReplyDelete@ la effizy, they will not stop the oil prospects in the Chad basin in the hope that when oil is discovered there, they can now quit Nigeria. Well there's no harm in trying but that's all it will ever be., there's oil spill in ogoni land crying for clean up but nay, no attention is given that but they want to continue to milk the south south in the quest to achieve a non existent ambition. Oil price is comingup watch what Bubu will say s his priority with the rise. Gej was definitely not our Moses, neither is Bubu our Joshua.
ReplyDelete