Oil Price decline to $73.5 Dollars per barrel threatens budget 2025 revenue target
The price of Nigeria’s Bonny Light Crude Oil fell by 10.6 per cent to $73.53 dollars per barrel from $84.02 dollals per barrel on January 15th, fuelling fears over achievement of the federal government’s budget 2025 revenue target.
The budget 2025 is based on a crude oil price benchmark of $75 dollars per barrel, oil production of 2.06 million barrels per day (bpd), and a revenue target of N36.35 trillion naira, with 56 percent coming from oil sales.
