[BUSINESS] Oil Falls to $28, Dollar Sells For N369

The price of Brent crude oil at the international benchmark has extended its decline on Tuesday, trading around $ 28 per barrel.

Brent, against which Nigeria’s crude is priced, fell by $ 1 .40 to $28. 65 per barrel at its lowest since January 2016.

However, the President,Major General Muhammadu Buhari (retd. ), signed the 2020 budget of which the production of oil was based on 2.18 million barrels per day with an oil price benchmark of $ 57 per barrel.

And, on Tuesday , the naira exchanged to the dollar between N365 and N369 at the Bureau De Change segment of the market.