[BREAKING] Budget: FG slashes oil benchmark to $30 per barrel

She said it was part of the measures to prepare for the worst-case scenario, as well as insulate the Nigerian economy against any form of unexpected crisis.

She also told the leadership of the National Assembly that budgeted revenues for the Nigeria Customs Service have been reduced from N1.5 trn to N943bn “due to anticipated reduction in trade volumes”. She also said, “The privatisation proceeds will be cut by 50 per cent, based on the adverse economic outlook on sales of the Independent Power Projects and other assets.”

Similarly, Ahmed disclosed that the Federal Government has undertaken cuts to Revenue-related expenditures for the Nigerian National Petroleum Corporation for several projects included in the 2020 Appropriation Act passed by the National Assembly in December 2019. She said, “The Federal Government is working on Fiscal Stimulus Measures to provide fiscal relief for taxpayers and key economic sectors.“We will stimulate investment in critical infrastructure; review non-essential tax waivers to optimise revenues, and compliment monetary and trade interventions to respond to the crisis.”

In Time of crisis, true leaders emerge. Ours are gone to bed even before we came out of coma. And during elections they will be filled with blatant lies. Nigerians will still foolishly vote for a baboon while the monkey is sitting/ working for its greed. Freedomforallnigerians

Their market de different? Ayam seeing 24.74 per barrel in the international mkt

Nonsense. Parasites

Madam minister please stay safe o! Since you are incharge of sharing money to states.

They’re afraid . Judgement day is fast approaching for them . And so they’re trying to make things right , last minute forgiveness from God .

still too high unfortunately.

$30 is no longer realistic, $20 is more realistic.

Before nko...since you have been looting and stealing since independence. What do we see? Oil peak at over $80 pb..and we had you all lavish it away..you all will face the music now..no escape for you all..enjoy the Nigeria you gave us..we endure it together...

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