An improvement in Nigeria’s oil earnings is on course as prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts, as well as strong demand, gradually draw down excess supplies.
Brent crude oil futures were up at 73.79 dollars per barrel at 0440 GMT.
U.S. West Texas Intermediate (WTI) crude futures down 2 cents at 68.40 dollars a barrel.
The Central Bank of Nigeria (CBN) has taken two approaches to deepen financial intervention in the real sector and boost economic growth.
Financial experts on Thursday expressed optimism that the Monetary Policy Committee (MPC) would review the interest rate at its subsequent meetings when the 2018 budget would have been passed.
However, the two chambers of the National Assembly had attributed the delay in the budget passage to refusal of heads of Ministries, Departments and parastatal Agencies (MDAs) to come forward and defend their respective budget proposals.
Oil markets climbed on Monday on the back of a drop in the number of United States rigs drilling for more production