Nigeria: Hope Rekindles As Oil Prices Rally

13 March 2016

Over the past 18 months, crude oil prices have fallen to below $30 per barrel from their apex of above $110/b. They however recently began to notch up some gains and only last week got up to $39/b. Nigeria, which benchmarked her budget at $38/b would hope that such positive price movement continues into the near future, writes Chineme Okafor

In a pulsating show, global crude oil prices last week recovered some of their margins and finally beat Nigeria's budgetary benchmark to trade at above $38 per barrel.

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