2012 budget is based on the following assumptions:
• Oil production of 2.48 mbpd up from 2.3mbpd for 2011;
• Benchmark oil price of US$70/barrel, a revision from US$75/barrel for the 2011 Amended Budget;
• Exchange rate of NGN155/US$;
• Projected GDP growth rate of 7.2%; and
• Projected inflation rate of 9.5%.
PRESIDENT Goodluck Jonathan yesterday presented a budget of N4.749 trillion for next year to a joint session of the National Assembly in Abuja, describing the expenditure profile ...
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Added December 13, 2011
from Guardian News