With the rising price of oil worldwide, does anyone know on what price of crude oil was the 2006 budget made in Nigeria, and what is happening to the gains?

The budget was made on an assumption of $30-$35 (not sure on actual figure) per barrel.

Use the link below to get to the budget speech

http://www.budgetoffice.gov.ng/docs/bgspeeches/bs2006.pdf


BUDGET 2006 PARAMETERS:
The budget is based on the following assumptions and
targets:
Budget/2006
Page 13 of 27
(a) a prudent oil price of $33 per barrel
(b) crude oil production of 2.5 million barrels per day
(including condensate)

Excess funds?
Kept in a special account and shared between the tiers of government

Other concerns?
Typically western countries make more money per barrel of crude than Nigeria (the producer) does. So don't expect any big difference(investment-wise) as a result. In any case, you should remember to budget for looting that is rampant in some government circles.


Full budget breakdown?
I have a softcopy. I think its online somewhere. Upon request, I can send one to you.

wow am just getting to see this thread! e don tay when naija problem start sha