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The Minister of Finance, Mrs Zainab Ahmed says the Federal Government will not lose focus on diversifying the economy from oil to other sustainable sectors like agriculture.
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Oil slipped below $80 a barrel on Thursday as the fourth weekly increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support.
Read More Oil prices extended gains into a fourth session on Wednesday, buoyed as industry data showed a surprise decline in U.S. crude inventories and as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked supply worries.
Read More Asian shares slipped on Monday as worries over Sino-U.S. trade disputes, a possible slowdown in the Chinese economy and higher U.S. borrowing costs tempered optimism, despite a rebound in global equities.
Read More Oil prices rose on Tuesday on growing evidence of falling crude exports from Iran, OPEC’s third-largest producer, before the imposition of new U.S. sanctions and a partial shutdown in the Gulf of Mexico due to Hurricane Michael.
Read More The global price of oil dropped to around $83 a barrel on Monday, pressured by expectations that some Iranian oil exports will keep flowing after the U.S. reimposes sanctions, easing a strain on supplies.
Read More Brent crude oil prices hit their highest level since November 2014 on Monday ahead of U.S. sanctions against Iran that kick in next month.
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Oil prices eased on Wednesday but were still set for a fifth consecutive monthly quarter of gains, driven by an impending drop in Iranian exports in the last three months of the year when global demand heats up.
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Saudi Arabia and Russia will not add significantly more oil to the market because of a lack of capacity, a top Iranian official said on Monday, predicting prices will probably rise further.
Read More Oil prices stabilised on Monday as worries over production losses were outweighed by concerns that trade disputes would reduce economic growth and hit global energy demand.
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