FG proposes $78 oil benchmark for 2015 budget

The Federal Government has proposed $78 as the benchmark price for a barrel of crude oil and fixed the exchange rate at N160 per dollar for the 2015 national budget.

The projection, which was contained in the Medium Term Expenditure Framework and Fiscal Strategy Paper sent to the Senate by President Goodluck Jonathan on Wednesday, was $4 higher than this year’s benchmark. Read more

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