Nigeria's oil earnings experienced a significant increase, amounting to approximately N5.13 trillion between February and April, attributed to a surge in crude prices amid escalating tensions between the United States and Iran. This revenue boost has exceeded the Federal Government's budget projections for 2026. However, there are concerns that the reopening of the Strait of Hormuz could lead to a potential loss of N13 trillion in future oil earnings, as market dynamics may shift with improved stability in the region.
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