There are fears that the naira may go through another round of devaluation as the global crude oil prices, which have remained low due to the tariff war initiated by the US President, Donald Trump, put pressure on Nigeria’s 2025 budget.
The Brent crude is currently trading at $66.62 per barrel, as against the 2025 budget estimate of $75 per barrel.
However, Nigeria’s Bonny Light crude is trading at about $78 per barrel.