Overhead takes 72% as govt budgets N4.75tr for 2012

 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 ...
Read the rest of the story on Guardian News

Added December 13, 2011
from Guardian News