OPEC, allies’ output hike agreement raises hope for Nigeria’s 2021 budget

The agreement, Thursday, by the Organisation of Petroleum Exporting Countries (OPEC) and its allies, led by Russia, to raise production by up to 500,000 barrels per day (bpd) gradually over a three-month period beginning from January may give Nigeria some relief from its fiscal worries. The compromise bridges differences among Nigeria and other OPEC over…