The federal government has voiced discontent at alleged efforts by the United States under Donald Trump to force down oil price.
Speaking with newsmen in Abuja on Tuesday, the CEO of the Nigerian Midstream and Downstream Petroleum Regulatory Authority, Farouk Ahmed, said Nigeria is at the receiving end of Trump’s policies in terms of oil proceeds.
Ahmed explained that the situation is to the advantage of consumers but disfavoured the nation.
“As consumers, we are happy that the price is coming down, but…as a nation, it’s not good for our economy because our revenue inflow is also impacted,” he said.
His other word,”So the crude oil and petrol products market continues to have a downward trajectory because of these inconsistencies and policies of the government of the United States, and the key aspect of it is the aspiration of the American president to ensure that the crude oil pricing, or the crude oil price, comes down to maybe below $50 a barrel; that’s why he encourages more exploration in his country.”
