Nigeria has projected an oil price of about $64 per barrel and production of 1.84 million barrels per day. Analysts say those targets may be hard to reach. However, officials are more concerned about volatile global prices, which could come under pressure from a potential supply glut, particularly as the United States eases restrictions on Venezuelan oil sales.
Tuesday, January 20, 2026
Global oil price uncertainty cast shadow over Nigeria’s fiscal outlook
Nigeria has projected an oil price of about $64 per barrel and production of 1.84 million barrels per day. Analysts say those targets may be hard to reach. However, officials are more concerned about volatile global prices, which could come under pressure from a potential supply glut, particularly as the United States eases restrictions on Venezuelan oil sales.
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