Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Get Data
    • Macro-Economic News
    • Research Analysis
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Currencies

Senate Finance Committee confirms 20% benchmark cut

Editor by Editor
February 25, 2015
in Currencies, Politics
Share on FacebookShare on TwitterShare on Linkedin

The Senate Finance Committee proposed on Wednesday to cut the oil price benchmark in the 2015 Budget to $52 per barrel from its current $65, a source at parliament has told the Reuters news agency. The upper house debated the change proposed by the committee on Wednesday but had not yet reached a conclusion.

The Ministry of Finance has previously insisted that the benchmark would not change, given that the government is under pressure not to slash spending, especially on salaries.

Despite the fact that GDP growth, only 15 percent of which is fed by oil, remains strong, the naira has hit a series of record lows against the US dollar in the last three months, finally settling at 199 to the greenback yesterday, despite the apex bank burning through billions of dollars of reserves to prop it up.

RelatedPosts

Why A Drop In Inflation Does Not Necessarily Mean A Drop In Prices Of Commodities

20 Financial Terms You Need To Know In The Stock Market

It is unclear where the cuts will happen if the new benchmark sails though since capital expenditure has already been slashed to 9 percent of the budget and the government struggling to pay salaries in the civil service. At the same time spending on military equipment is rising because of the Boko Haram insurgency.

Related

Tags: News Review

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Mega Millions
Hot forex
Cornerstone
Polaris Bank
Access Bank
Bankers Committee
First bank


FCMB




    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • NCDMB, NAICOM moves to ensure patronage of local insurance firms by oil and gas companies
    • Top 5 Most Creatively-Themed Restaurants in Nigeria
    • Microsoft raises alarm over new Android malware, ‘toll fraud’

    Follow us on social media:

    Recent News

    NCDMB, NAICOM moves to ensure patronage of local insurance firms by oil and gas companies

    NCDMB, NAICOM moves to ensure patronage of local insurance firms by oil and gas companies

    July 4, 2022
    Top 5 Most Creatively-Themed Restaurants in Nigeria

    Top 5 Most Creatively-Themed Restaurants in Nigeria

    July 4, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Financial Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Metrics
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
      • Securities
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
      • Real Estate and Construction
      • Tech News
    • Economy
      • Get Data
      • Macro-Economic News
      • Research Analysis
    • Business News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com