Nigeria's oil savings depleted 35 pct to $5.87 bln this year

ABUJA (Reuters) - Nigeria has used up 35 percent of its oil savings so far this year, leaving it with $5.87 billion, data released by the accountant general's office showed on Tuesday. The Finance Ministry has said it had $9 billion in accumulated oil savings as of last December. Nigeria deposits oil revenues above an assumed benchmark price into the savings fund to cushion itself against future ...
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Added May 21, 2013
from Yahoo Nigerian News