Experts reveal why the fall in crude oil prices in a mixed fortune for Nigeria

• Crude oil prices have continued to decline, a negative sign for the Nigerian economy, and possibly, the naira
• Nigeria’s Bonny Light Crude fell 10.6% to $73.53 per barrel from $84.02 in January, causing panic about the nation’s budget
• Experts have revealed that a fall in crude oil prices could lead to the naira’s depreciation as FX reserves decline

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Nigeria’s Bonny Light crude dropped by 10.6% to $73.53 per barrel from $84.02 in January, sending fears over the performance of the Nigerian government’s 2025 budget and revenue target.

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