Some experts on Wednesday lauded the $45 per barrel benchmark for crude oil in the 2018 budget proposal President Muhammadu Buhari presented to a joint session of the National Assembly.
The experts said this in Abuja while speaking in telephone interview with the News Agency of Nigeria (NAN).
“The current benchmark adopted for oil price seems reasonable,’’ Prof. Adeola Adenikiju, former president of the National Association of Energy Economics, said.
“Currently, the average price of oil is significantly above that due to combination of factors – some fundamental, others part of the normal transitory factors that affect the price of oil.
“Most forecasts of oil seem to project oil price in 2018 around upper $40s to middle $50s,’’ Adenikiju explained further.
When asked what would be the case should crude price suddenly nosedive below $45, an economy expert…
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