No panic over oil price dip, govt insists - The Nation Newspaper
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Featured April 12, 2025 by Nduka Chiejina, Abuja and John Ofikhenua, Abuja • Nigeria’s gas reserves rise to 210.54TCF• Records 37.28bb crude oil, condensate reserves• Nigeria’s gas reserves rise to 210.54TCFThe Federal Government has allayed fears that the recent fluctuations in global crude oil prices could derail the 2025 national budget, assuring Nigerians that necessary measures are already in place to cushion any impact and adjust fiscal planning as required.Responding to inquiries from The Nation on whether the volatility in oil markets poses a serious threat to the national budget, an authoritative source at the Ministry of Budget and Economic Planning explained that “there is no cause for alarm.”According to the source, oil price fluctuations are not an unfamiliar development for the Nigerian economy, and the administration is not treating the issue as a crisis. “There is nothing to panic about. Oil price volatility is not a new phenomenon. The minister has addressed this matte...