BANKING AND FINANCE NUGGETS - MUCH ADO ABOUT THE EXCESS CRUDE ACCOUNT

It is no longer news that our economy relies primarily on proceeds from crude oil sale such that 80% of the country's public revenue accrues from crude oil proceeds. A situation which makes our national income suceptible to every wind of change in the global oil market. Globally during oil booms (when oil prices are fairly high), oil producing countries such as Nigeria beneift immensely from curde oil (commodity) sales as actual sales exceeds the benchmark oil price. To read more, please click here.