The price of crude oil, yesterday, dropped from $50 to $48 in the international market, showing $12 below Nigeria’s $60 per barrel 2019 budget reference price. Specifically, the price of Brent, West Texas Intermediate, WTI and the Organisation of Petroleum Exporting Countries, OPEC, basket of 15 crudes stood at $48.00, $43.38 and $47.92 per barrel respectively. This means that the government projections, especially total revenue projection and expenditure in the budget may not be realised, should the volatility continue in the market. This came as there are indications that Nigeria’s Egina oil will hit the global oil market in February, 2019, according to loading programme. The loading programme obtained by Vanguard showed that the first cargo of the oil grade will be lifted by stakeholders, including Total, Nigerian National Petroleum Corporation, NNPC, and China National Offshore Oil Corporation, CNOOC. Total spokesman, Mr. Charles Ebereonwu, restated in a telephone interview with Va...
Nigerian President Muhammadu Buhari said his wife Aisha Buhari’s allegation that his government has been hijacked was baseless and described it as “her business.” Buhari insisted there was no cabal running his government and asked his critics to name one decision taken by the cabal. “That’s her business,” Buhari said during an interview with the Hausa service of Voice of America. “What they are saying is different from what is happening,” “They should come out and say those things they feel was staged managed by the cabal. What the cabal force to me to do. They should mention just one thing,” he added. A video clip of the interview was shared on Twitter by a Saleh Shehu Ashaka, a Nigerian journalist with Voice of America Bayan an shafe lokaci mai tsawo ana sukar gwamnatinsa cewa ya bari wadansu mutane kalilan da aka fi sani da “cabal” @MBuhari ya ce ba wani mahalukin da ke sarrafa gwamnatinsa a boye, har ya kalubalanci ‘yan kasar cewa idan da mai hujja ya kawo....