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Nigeria Senate wants $75/bbl oil benchmark in budget

ABUJA (Reuters) - Nigeria's Senate has said it wants to adopt a $75 per barrel oil price benchmark in the 2012 budget, up from the $70 proposed by the finance ministry, which would give the government more money to spend and leave less for savings. Nigeria saves money into an Excess Crude Account (ECA) over the benchmark price in its budget to cushion Africa's second largest economy against ...
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Added January 20, 2012
from Yahoo Nigerian News