The international oil benchmark, Brent crude, extended its gains on Friday, rising above $93 per barrel, in what is a potential boost to Nigeria’s crude oil export revenue.
Brent crude, against which Nigeria’s oil is priced, hit a fresh seven-year high of $93.44 per barrel as of 4:15pm Nigerian time on Friday, trading more than $30 higher than the Federal Government’s benchmark for the 2022 budget.
The 2022 budget, which was signed by President Muhammadu Buhari in December, was based on oil production of 1.88 million barrels per day, with an oil benchmark price of $62 per barrel…
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