Nigeria: Oil, Water and Budget 2013

7 December 2012

IN his 2013 budget speech proposal to the National Assembly three weeks ago, President Goodluck Jonathan had set $75 as the upper limit benchmark for oil price. The House of Representatives is pushing for $80.

The Minister of Finance and the Coordinating Minister for the Economy, Mrs. Ngozi Okonjo-Iweala, had, in defense of the government position, said the $75 oil benchmark "is based on moving averages of the world oil price and government's simulations allowing for uncertainty in world oil price movements".

...

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.