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Nairaland Forum / Nairaland / General / Politics / $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch (583 Views)
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$139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by ifyan(m): 9:56am On Apr 07, 2017 |
Femi Asu Nigeria is in the worst position among major oil exporting countries in the Middle East, Africa and parts of Europe to have balanced budgets this year, with oil forecast to average $52.50 per barrel, according to Fitch Ratings Limited. The country needs an oil price of $139 per barrel to balance its budget, the global rating agency said in a report on 14 major oil exporting nations in the Middle East, Africa and emerging Europe. The forecast break-even oil prices of other African countries, Angola, Gabon and Republic of Congo were put at $82, $66 and $52 per barrel, respectively. According to Fitch, Saudi Arabia needs an oil price of $74 per barrel; Bahrain, $84; Russia, $72; Kazakhstan, $71; Oman, $75; Azerbaijan, $66; Iraq, $61; United Arab Emirates, $60; Qatar, $51; and Kuwait at $45. It said even after cuts in government subsidies and currency devaluations, 11 of them would not have balanced budgets this year, including Saudi Arabia, Bloomberg reported on Thursday Only Kuwait, Qatar and the Republic of Congo have estimated break-evens that are below Fitch’s oil price forecast for this year. Kuwait at $45 per barrel traditionally has a low break-even because of its high per-capita hydrocarbon production and more recently its “large estimated investment income” from its sovereign wealth fund, Fitch said. The rating agency said it “substantially” raised the fiscal break-even prices for Nigeria, Angola and Gabon from 2015 levels because of rising government spending. Read more@http://www.nairausd.com/2017/04/139-oil-price-is-needed-for-nigeria.html
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Re: $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by MrGreenMavro: 10:22am On Apr 07, 2017 |
Re: $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by Alisegun(m): 10:23am On Apr 07, 2017 |
FU KI NI.. |
Re: $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by ifyan(m): 11:52am On Apr 07, 2017 |
Alisegun: Meaning |
Re: $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by Blue3k(m): 1:18pm On Apr 07, 2017 |
I don't believe it. Even if it's true it's not happening. |
Re: $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by OreMI22: 1:54pm On Apr 07, 2017 |
Nigeria needs to FORGET OIL. But BUHARI is addicted to sharing oil money 1 Like |
Re: $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by CriticMaestro: 1:54pm On Apr 07, 2017 |
lets wait and c what buhari's econpmic team thinks about it |
Re: $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by DrGoodman: 2:06pm On Apr 07, 2017 |
And the government is using Niger Delta oil money o dig oil well in lake chad? |
Re: $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by ifyan(m): 12:02pm On Apr 08, 2017 |
DrGoodman: Na were confusion De show itself |
Re: $139 Oil Price Is Needed For Nigeria Budget To Balance Balanced – Fitch by simonlee(m): 12:44pm On Apr 08, 2017 |
Oil prices can never go so high. Let us just go back to agriculture and stop this wishful thinking |
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