…presents N640bn supplementary budget to National Assembly
President Goodluck Jonathan has asked the National Assembly to approve a cut in state spending planned for 2010 and a drop from $67 per barrel in the average oil price used to calculate the budget, Senate President David Mark said on Tuesday.
“Given the recent drop in international oil prices from $80 a barrel to under $70 a barrel, it is prudent to revise the oil benchmark price to a more realistic level,” Jonathan said in a letter read ...
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Added June 01, 2010
from Businessday Nigeria