US/Iran: Buhari is all smiles as oil prices rise, holds close door meeting with NNPC boss

It may not be good news for everyone, but it's certainly something the Buhari administration may consider as blessing especially when the president has plans to borrow about $30 billion to fund its budgets.



Yes, I'm talking about the feud between the United States and the Islamic Republic of Iran, and its effect on oil prices.

A recent report by the News Agency of Nigeria (NAN), said President Muhammadu Buhari on Wednesday met behind closed doors with the Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), Mela Kyari, at the Presidential Villa, Abuja to discuss something believed to be unconnected with the clashes between the US and Iran, and the rise in global oil prices.


The president, who equally serves as Minister of Petroleum Resources, would also be meeting with the Minister of State, Petroleum Resources, Mr Timipre Sylva, later on Wednesday.


Brent crude, the global benchmark, gained 2.4% to reach $70.24 per barrel on Monday, the first time prices have hit that amount in more than seven months.