2025 Budget: Boost pipeline security to achieve N36trn revenue target — Group tells FG

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2025 Budget: Boost pipeline security to achieve N36trn revenue target — Group tells FG

Nigeria’s oil-producing host communities have told President Bola Tinubu and the Nigerian National Petroleum Company Limited, NNPCL, to boost pipeline surveillance in the Niger Delta region to achieve the country’s revenue target of N36.36 trillion in the proposed N49.7 trillion 2025 budget.

The National President of HOSTCONYCN, Emmanuel Pathfinder, made the call at a press conference in Abuja on Friday.

It was reported that on Wednesday, the President presented the next annual budget of N49.7 trillion to the National Assembly.

Key economic assumptions of the budget are a N36.36 trillion revenue target, inflation to reduce to 15.75 percent, exchange rate at N1,500 per dollar, oil production at N2.06 million barrels per day, crude oil price at $70 per barrel, and a N13.39 trillion budget deficit.

Reacting, Pathfinder noted that the continuation of pipeline surveillance will further boost the country’s 1.8 million barrels per day crude oil production to target 2.06 mbpd in 2025.

According to him, Nigeria can only achieve its ambitious N36.36 trillion revenue target with sufficient crude oil production.

“We are very hopeful that by January and February 2025, the output of oil production will increase to over 2.5 million barrels daily for the stability of the economy of the nation.”