Nigeria Faces Budget Blow as Global Oil Prices Dip Below $60: What It Means for the Economy

As global oil prices plunge below $60 per barrel, Nigeria’s fiscal stability is under serious pressure, threatening the feasibility of the federal and state governments’ ambitious 2025 budgets. With total spending plans estimated at over ₦75 trillion, the federal government’s oil revenue projections may be significantly undermined unless crude prices rebound quickly or production scales [...]

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