2023 Budget in danger as crude output crashes by 470,000 bpd vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
Sept 13,2023. Implementation of the 2023 budget of N21.8 trillion is currently threatened as the nation has suffered a shortfall in crude oil output, amounting to 470,000 barrels per day, bpd in August 2023. This represents 29 per cent fall from the budget benchmark of 1.69 bpd. At the current global market price of $92 |
Also reacting to the shortfall in the nation’s oil production, Prof Uche Uwaleke, President, Association of Capital Market Academics of Nigeria, ACMAN, said: “It is a worrisome development. If crude oil production was 1.2mbpd against an OPEC quota of 1.74mbpd, it means that volume deficit is in excess of 500,000 barrels per day.
Controversy trails sale of Eni onshore oil assets to Oando vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
SUBSIDY IS GONE: Nigerians, economy also going, but… vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.