Budget: Fiscal Discipline Maintained

October 2006 | Economic Analysis

On the whole, Nigeria's budget for fiscal year 2007/08 (April/March) is reasonably balanced, set in a context where excess revenues from the oil industry have been managed responsibly in recent years. The budget, presented in mid October, envisages spending of NGN2.3trn and revenues of NGN1.8trn, representing an anticipated budget deficit of 2.9% of GDP, based on an oil price assumption for Bonny Light crude of

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