Nigeria Can't Rely on Rising Oil Prices, Minister Says
- Top producer can balance its budget with oil at $45 per barrel
- Infrastructure gap of $25b needs plugging: Kemi Adeosun
A man walks through foliage as gas flares burn in the distance at an oil flow station in Idu, Rivers State, Nigeria.
Photographer: George Osodi/Bloomberg
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Africa’s top oil producer is learning to ignore crude prices, Nigeria’s Finance Minister Kemi Adeosun said.
“We’ve gotten to a point where we don’t care,” whether prices will be sustained at the level that they have recently risen to, Adeosun said during an interview in her office in the capital, Abuja. “We’ve been able to balance our budget at $45-$46 per barrel and we’ve got to learn to live comfortably at that level.”