Budget minister allays budget fears over oil price drop

Minister of Budget and National Planning, Senator Udoma Udo Udoma, has allayed the fears of Nigerians over the softening of the international oil prices, saying that the government will closely monitor the events with a view to achieving targeted oil production.

According to him, President Muhammadu Buhari has directed the Nigerian National Petroleum Corporation (NNPC) to take all possible measures to achieve the targeted oil production of 2.3 million.

“Notwithstanding the recent softening in international oil prices, the considered view of most reputable oil industry analysts is that the downward trend in recent months is not necessarily reflective of the outlook for 2019. However, we will closely monitor the situation and will respond to any changes in the international oil price outlook for 2019,” he said.

Source: The Sun



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