Senate raises Nigeria’s 2018 oil benchmark to $47 per barrel

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The Senate has raised the oil benchmark for the 2018 budget from the $45 per barrel as proposed by the Federal Government to $47.

The upper chamber of the National Assembly took the decision at the plenary on Tuesday after consideration and adoption the report by its Joint Committee on Finance, Appropriations, and National Planning and Economic Affairs on the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper.

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