The United States lifted oil exports, Nigeria oil revenue is facing greater pressure
Nepal "attacked the newspaper" published a signed article on the Nepalese oil finance expressed concern. The article pointed out that the Nepalese trying to improve the difficult period of oil exports, the US official announced the abolition of crude oil export ban, will undoubtedly make the economy worse.
The United States was a major oil exporter, but since the United States to develop shale oil resources, almost no longer imported oil from Nigeria, Nigeria oil exports have a great impact. The lifting of US oil exports, will further squeeze crude oil export market, and may change the international crude oil market supply and demand pattern, adverse international oil prices stabilized. The article suggested that the Nigerian government must accelerate the transformation of economic development model, to change the current dependence on oil alone passive situation.
Nigerian economic growth in 2016 forecast 4.37%, the budget will triple investment spending
Nigerian President Al-Buhari said on Tuesday that he expected the economy to grow by 4.37 per cent in 2016, when he explained the budget plan to Congress. 2016 annual budget of 6.08 trillion naira (about 30 billion US dollars, about 27 billion euros), budget expenditure increased by about 20%, of which investment will be the main beneficiaries, investment spending accounted for 30% of total expenditure, about growth More than three times to stimulate economic growth and reduce dependence on oil. Electricity and housing and other key infrastructure will account for 433.4 billion naira, the traffic will account for 20.2 billion naira. The budget is based on a price of $ 38 per barrel, slightly higher than the current market price, but oil revenues account for only about a quarter of the budget, about 820 billion naira.
"This budget will help stimulate the economy and help industry, commerce and investment pick up as soon as possible," Bukhari said in a parliamentary Budget Interpretation Act. "It is the most important thing to address the unemployment of young people and improve the living conditions of the extremely poor and vulnerable groups matter."
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