Nigeria’s Oil Prices Slip Below $68, Raising Concerns Over 2025 Budget Projections
Story, written by Myra Chinonso september 10,2025
The drop in global oil prices comes at a time when the federal budget is heavily dependent on crude earnings to finance expenditure and stabilize the economy. With benchmark projections set above the current market value, analysts warn that a sustained decline could widen the fiscal deficit and increase borrowing pressure.
Energy market watchers note that weaker global demand, combined with oversupply from other oil-producing nations, is driving the downward trend. They caution that unless prices rebound, Nigeria may struggle to meet its fiscal obligations, including public sector wages and infrastructure projects.
The federal government has yet to issue a response, but industry experts say urgent policy adjustments may be needed to cushion the impact of lower oil receipts on the economy.
