oil prices

Nigeria's currency has gained ground as Brent crude trades above the federal government's $64.8 per barrel budget assumption, positioning the country for improved foreign exchange reserves and fiscal stability.

Nigeria's currency weakened N3.25 at the official foreign exchange window while strengthening N25 in the parallel market to N1,340/$, as crude oil prices extended gains amid escalating US-Iran tensions.

Brent crude traded at $67.78 per barrel on Monday, maintaining a $3 premium over Nigeria's 2026 budget benchmark as oil markets navigate diplomatic developments and OPEC+ supply dynamics.