Wednesday, February 25, 2015

Senate set $52 oil benchmark and N190/$ exchange rate in Budget Approval


The Nigeria Senate on Tuesday approved $52 per barrel of oil and N190 for a $ in 2015 budget approval after one hour close door session held by senators
Among those that took part in the close door section said that other budget allocation to other sector would have to be adjusted to reflect the true state of the Economy
They also stated that implementing  capital project this year will be a very difficult task as a result of a drop in oil price.

On December 17th 2014 the Federal government laid a Budget of N4.357 Trillion on $65 per barrel and an exchange rate of N165 to a dollar for 2015 fiscal year.

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