MINISTER of Finance and Coordinating Minister for the
Economy, Dr Ngozi Okonjo-Iweala, said yesterday that for Nigeria to sustain
stability of its economy, it has to raise its excess crude account, which
currently stands at $4.1 billion to $5 billion.
This came as indications emerged that the Senate may peg
oil benchmark in the 2015 fiscal year at $78 per barrel as against $77.5
benchmark in the ongoing year.
Dr. OKonjo-Iweala, who spoke in Abuja, when she appeared
before the Senate committees on Finance and National Planning, during
consideration of the 2015-2017 Medium Term Expenditure Frameworks, MTEF, as a
working document for the 2015 Budget, also dismissed claims that the country
was financially bankrupt in spite of some cash fluctuations it was experiencing
source: Vanguard News.
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