Nigeria’s major crude oil grades, Brass River and Qua Iboe, dropped below the $68-mark on Monday, trading at $68.56 and $68.61 per barrel respectively, down 0.22 percent decline, according to market data. The drop brings fresh concerns about the country’s fiscal outlook, as the federal government’s 2025 budget is predicated on a crude benchmark of $75 per barrel and a daily production target of 2.06 million barrels per day (bpd). The gap between assumptions and reality is widening, threatening to deepen fiscal imbalances in Africa’s largest
Nigeria’s major crude oil grades, Brass River and Qua Iboe, dropped below the $68-mark on Monday, trading at $68.56 and $68.61 per barrel respectively, down 0.22 percent decline, according to market data. The drop brings fresh concerns about the country’s fiscal outlook, as the federal government’s 2025 budget is predicated on a crude benchmark of $75 per barrel and a daily production target of 2.06 million barrels per day (bpd). The gap between assumptions and reality is widening, threatening to deepen fiscal imbalances in Africa’s largest