The expected oil-related N820 billion revenue to finance the 2016 budget is being threatened by the recent reduction of prices for Arab light by the world’s highest producer of crude oil, Saudi Arabia.The Federal Government had pegged the 2016 budget on crude oil benchmark of $38 a barrel and 2.2 million barrels per day production, which would have earned the country N840 billion this year.
Read more @ The Guardian
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