Nigeria’s finance ministry said it isn’t reviewing its benchmark budgeted oil price after a Ministry of Power official said the nation plans to review it downwards.
“The price of oil is still quite volatile and we do not know how it will bottom out,” Constance Ikokwu, a spokeswoman at the Ministry of Finance, said in an e-mailed statement Tuesday from the capital, Abuja. “We have been working together with our lawmakers to ensure that we steer the country in the right direction during this period.”