Buhari In Emergency Meeting With Ministers Over Oil Price Crash

President Muhammadu Buhari has convened a meeting to talk about the fall in the prices of crude oil and the effect of the outbreak of  on the economy of the country.

Reports have it that those present at the meeting are the Minister of Finance, Budget and National Planning, Zainab Ahmed, and the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele.

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Also present at the meeting are the Ministers of State for Petroleum and State for Budget and National Planning, Timipre Sylva and  Clement Agba respectively, and the Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari.

A committee that is charged to look into the oil budget benchmark, headed by Mrs. Zainab, with Timipre Sylva, Mele Kyari,  Clement Agba, and Godwin Emefiele forming a part of the committee.

The crude oil benchmark has seen some shifts both in the 2020 budget proposal which pegged the crude oil benchmark at $53, with the approved budget raising that to $57.

The committee has been asked to report back at the Federal Executive Council meeting on Wednesday.