Oil price declines to $73.5 per barrel, puts 2025 budget revenue at risk target
THE price of Nigeria’s Bonny Light crude oil fell by 10.6 per cent to $73.53 per barrel from $84.02 per barrel on January 15th, fuelling fears over achievement of the Federal Government’s 2025 budget revenue target. The Budget 2025 is based on a crude oil price benchmark of $75 per barrel, oil production of 2.06 million barrels per day (bpd), …