Nigeria Plans Budget Cuts as Oil Price Drop Erodes Revenue

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Finance Minister Ngozi Okonjo-Iweala has revealed that Nigeria is planning spending cutbacks as falling oil prices erode the country?s revenue.

For budgetary purposes, the minister is proposing an oil price benchmark of $73 per barrel in 2015, down from $77.5 per barrel this year, she told reporters in Abuja, the capital.
Source: http://www.ereporter.com.ng/index.php/national-news/item/1401-nigeria-plans-budget-cuts-as-oil-price-drop-erodes-revenue