Nigeria: 2008 Budget - Nass to Increase Oil Price Benchmark

The National Assembly would increase the crude oil price benchmark of $53.3 per barrel proposed by President Umaru Yar'Adua in the 2008 Appropriation Bill, Chairman of the House of Representatives Committee on Finance has said.

Mr. Festus Adegoke said the National Assembly has not decided on the percentage increase.

"Recently there is an increase on the price of crude oil price on the international market, we're trying to critically look at the increase and see how to adjust the crude oil price benchmark in the Appropriation Bill," Adegoke told Weekly Trust yesterday in Abuja.
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I hope the national assembly do their homework very well or they are going to put President Yar'adua and the entire nation in trouble