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Oil Price: Nigeria To Cut Budget Size – Finance Minister

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Nigeria will cut size of its budget in the face of sharp declines in the price of crude oil.

The finance minister, Zainab Ahmed told reporters on Monday while speaking in Abuja after a meeting with President Muhammadu Buhari.

READ ALSO: President Buhari’s 2020 Budget Speech (Full Text)

She said a committee including herself, the minister of state for petroleum, the head of state oil company NNPC and the central bank governor would determine the size of the budget cut in the coming days and revisit the benchmark crude oil price of $57 a barrel used to calculate the budget.

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