Nigerian Senate Reduces Oil Price Benchmark to $60 in 2026 Budget Amid Global Tensions

16 Dec 20251 min read

The Nigerian Senate has lowered the oil price benchmark to $60 per barrel for the 2026 national budget, down from $64.30-$65.70 for 2027-2028. This decision was influenced by global geopolitical tensions in Europe and the Middle East.

The Senate also endorsed exchange rate projections and GDP growth targets, aiming to stabilize the economy amidst ongoing reform efforts. The Central Bank of Nigeria's policies are aligned to support the budget's macroeconomic assumptions.

Plus234Feed summary based on reporting from Daily Post. Read the original report below.

Read full article

Continue on Daily Post

Visit

Top Stories

Most popular stories right now

Kelechi Ohiri: Transforming Nigeria's Healthcare System

This Day3d ago

Skills Development Crucial to Combat Nigeria's Unemployment

Punch Newspapers14h ago

Woman Rescued After Jumping into Lagos Lagoon

Punch Newspapers2d ago

Federal Fire Service Enhances Response to Fire Disasters

Blueprint2d ago

Nollywood Actress Temitope Osoba Dies After Cancer Battle

Plus234Feed Original10h ago

Nigeria to Launch 90,000km Fibre Optic Network Soon

Punch Newspapers2d ago

Kano State Allocates ₦300M for Hisbah Mass Wedding Scheme

Nigerian Tribune10h ago

Kwankwaso Urges Action on Living Costs and Insecurity

Punch Newspapers2d ago