Despite Federal Government’s substantial cut of the oil price benchmark to $20 per barrel a few days ago, Nigeria’s revenue shortfall in the 2020 budget may not be as huge as N4.7 trillion as projected based on the lingering volatility in the international oil market.
Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, had during a videoconferencing on Nigeria’s response to the fall in oil prices and the COVID-19 pandemic, last week said that earnings from crude oil exports would led a substantial drop in government’s revenue to N3.9 trillion as against the N8.6 trillion previously projected.
Read more: https://www.dailytrust.com.ng/analysts-forecast-bright-outlook-for-nigerias-oil-earnings.html
