Outlook Of Domestic Currency (2)

Outlook Of Domestic Currency (2)
March 4, 2017 AbenaBrigidi

The kick start of production from the TEN oil fields is expected to increase daily oil production to 170,000bpd from an average of 120,00bpd in 2017. We believe that, the attainment of this production output will facilitate a shift from a net oil import position to a net oil export position by Fiscal year 2017. This will help optimize gains from the rising oil prices.

Furthermore, renewed investor confidence is expected to facilitate prudent fiscal spending and ramp up FDI flow in 2017, following a successful electoral exercise, and on-going IMF fiscal consolidation program.

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