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House passes fiscal plan, refused subsidy removal

Nigeria's House of Representatives on Thursday approved the government's medium-term fiscal framework (MTFF) but refused to include plans to remove fuel import subsidies in a major setback for the controversial proposal. Ngozi Okonjo-Iweala, the finance minister and coordinator of the economy, delivered the MTFF to the national assembly in September, including planned savings of about $7 billion a year from removing petrol import subsidies.
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Added December 02, 2011
from Businessday Nigeria