The National Assembly and the Executive have been at loggerheads about the question of the oil price to be used as the benchmark for the national 2013 budget. The executive lead by the Minister of Finance, Dr Ngozi Okonjo-Iweala, proposed a benchmark of $75 per barrel but the National Assembly have bluntly refused to accept it saying that it should be raised to $78 - $80 per barrel. Oil makes up about 80% of Nigerian revenues.
The Oil Benchmark Conundrum
The Oil Benchmark Conundrum
The Oil Benchmark Conundrum
The National Assembly and the Executive have been at loggerheads about the question of the oil price to be used as the benchmark for the national 2013 budget. The executive lead by the Minister of Finance, Dr Ngozi Okonjo-Iweala, proposed a benchmark of $75 per barrel but the National Assembly have bluntly refused to accept it saying that it should be raised to $78 - $80 per barrel. Oil makes up about 80% of Nigerian revenues.