Nigerian lawmakers increase 2020 budget outline based on higher oil price

Nigeria’s legislature on Thursday increased the value of the country’s 2020 budget outline to 10.729 trillion naira ($35 billion) based…

Nigeria’s legislature on Thursday increased the value of the country’s 2020 budget outline to 10.729 trillion naira ($35 billion) based on expectations of higher oil prices. The legislature passed a medium-term expenditure framework that increased the anticipated oil price to $57 per barrel from a previous $55 per barrel. That pushed the budget up from 10.002 trillion naira.

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