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ABUJA, April 13 (Reuters) – Nigerian President Goodluck
Jonathan signed the 2012 budget into law on Friday, reducing
total spending to 4.697 trillion naira ($29.81 billion) from the
4.88 trillion proposed by parliament last month.
The spending plans assume a $72 benchmark oil price, any
earnings over which are saved into the excess crude account.
Nigerian lawmakers often inflate spending plans. The finance
ministry had initially proposed spending of 4.65 trillion naira.
(Reporting by Felix Onuah; Writing by Joe Brock; editing by
Patrick Graham)
