Business Fresh Trouble As Crude Oil Prices' Fall Continues - Guardian



Despite the Federal Government’s using a crude oil price benchmark of N38 for its 2016 proposed budget, an economic crisis looms. This is because by yesterday, the oil price continued to plummet, falling below $37 per barrel and international Brent crashing to below $40 for the first time since early 2009. The prices may fall further.

Lamenting the crash in oil price, Asset Management Company of Nigeria (AMCON) said the decline had far-reaching implications in its efforts to meet obligations

Besides, about N500 billion has been earmarked for social welfare intervention programmes in next year’s fiscal plan. Potential beneficiaries of the welfare programme, however, would have to present evidence of children’s enrolment in school and of immunisation.