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".
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