Nigeria’s Parliament Passes 2018-2020 Budget Framework

On Tuesday, Nigeria’s parliament exceeded the government’s 2018-20 spending framework elevating its oil price assumption to $47 from $45 per barrel. The budget framework tasks crude manufacturing of 2.3 million barrels per day for next year. It additionally forecasts Nigeria’s economy will develop 3.5 percentage subsequent year, 4.5 percent in 2019 and 7 percent in 2020. The higher oil rate assumption “should not be overly problematic,” said Standard Chartered’s Razia Khan, given Read more [...]