Nigeria passes 2016 budget based on 2.2 million b/d output

摘要

Nigeria’s Senate on Wednesday passed the 2016 budget of Naira 6.06 trillion ($30.7 billion) that is based on an oil production assumption of 2.2 million b/d and an oil price benchmark of $38/b. The approved budget was slightly lower than the Naira 6.08 trillion ($30.1 billion) budget proposed to parliament last December by President Muhammadu Buhari, which federal lawmakers believed would be difficult to achieve due to fluctuating oil prices in the international market, Danjuma Goje, chairman of the Senate Committee on Appropriation, said on state radio.