Nigerian Senate Fixes $52 as Oil Benchmark
After several weeks of bated breath, the Senate on Tuesday approved a $52 per barrel oil benchmark for the 2015 budget. It also predicated the budget on an exchange rate of N190 to the dollar.
This is just as the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has restated that she is not opposed to the release of the full forensic audit report on the Nigerian National Petroleum Corporation (NNPC), but expressed concern that it might be politicised by the “rabid opposition” in the country.
The resolution on the budget benchmark and exchange rate was the outcome of a one-hour closed-door session held by the senators before the commencement of plenary.
A source told THISDAY that several senators who spoke at the closed-door session, expressed concern over the state of the economy, regretting that the nation would have to resort to borrowing to finance some projects.
Read more on Daily Trust
This is just as the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has restated that she is not opposed to the release of the full forensic audit report on the Nigerian National Petroleum Corporation (NNPC), but expressed concern that it might be politicised by the “rabid opposition” in the country.
The resolution on the budget benchmark and exchange rate was the outcome of a one-hour closed-door session held by the senators before the commencement of plenary.
A source told THISDAY that several senators who spoke at the closed-door session, expressed concern over the state of the economy, regretting that the nation would have to resort to borrowing to finance some projects.
Read more on Daily Trust
Nigerian Senate Fixes $52 as Oil Benchmark
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10:38 am
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Reviewed by Msl
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