Nigeria's Oil Revenue Plunges 62% Below Target, Posing Fiscal Risks
Nigeria's oil revenue for the first seven months of 2025 fell significantly below the projected target, with a 62% shortfall. This shortfall was attributed to lower crude oil production and weaker global oil prices, posing fiscal risks due to Nigeria's heavy reliance on oil revenue.
The budget benchmark of $75 per barrel was not met as actual market conditions were less favorable. Non-oil revenue sources failed to bridge the gap, with net non-oil revenue standing at N12.14 trillion, below the target.
The situation raises concerns about Nigeria's fiscal credibility and budget planning.
Plus234Feed summary based on reporting from NairaMetrics. Read the original report below.
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