OIL PRICE DROPS 6.8% TO $69.90 ON TRUMP TARIFFS, OPEC+ SUPPLY HIKE.(PHOTO).

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 Oil Price Drops 6.8% to $69.90 on Trump Tariffs, OPEC+ Supply Hike The price of Nigeria’s Bonny Light crude fell 6.8% to $69.90 per barrel following new U.S. tariffs announced by former President Donald Trump and OPEC+’s decision to increase oil supply from May 2025. The slump raises concerns over Nigeria’s 2025 budget projections, which are based on $75 per barrel and 2.06 million barrels per day production. However, February output fell 3.8% to 1.67 million bpd, according to the NUPRC. Meanwhile, OPEC+ members, including Saudi Arabia and Russia, reaffirmed plans to gradually unwind 2.2 million bpd in voluntary production cuts, but may pause or reverse the move depending on market conditions.
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PRESIDENT TINUBU TO ADDRESS THE NATION ON SUNDAY. (PHOTO). #PRESS RELEASE.

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 STATE HOUSE PRESS RELEASE


PRESIDENT TINUBU TO ADDRESS THE NATION



President Bola Tinubu will address the nation in a broadcast on Sunday, August 4, 2024, at 7:00 am.


Television, radio, and other electronic media outlets are enjoined to plug into the network services of the Nigerian Television Authority (NTA) and the Federal Radio Corporation of Nigeria (FRCN) for the broadcast.


The broadcast will be repeated on the network services of the NTA and the FRCN at 3:00 pm and 7:00 pm on the same day.

 

Chief Ajuri Ngelale


Special Adviser to the President


(Media & Publicity)


August 3, 2024

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