5 October 2011
Oct. 5 (Bloomberg) --
’s government plans to end fuel subsidies, weaken the naira and raise spending by 7 percent in its budget next year as oil prices ease. Nigeria
Scrapping the fuel allowance, which is planned over the next three years, will save the government 1.2 trillion ($7.5 billion) in 2012, according to a three-year plan sent to parliament by the Budget Office.