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Nigeria Targets 4.2% Growth in Expanded Spending Plan

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  • Covid-19 deviated global economies including oil rich Nigeria
  • Country projects budget deficit of 3.4% of GDP in 2022

  • Spending plan is based on average oil price of $57 a barrel

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Nigeria’s government finalized plans to ramp up spending and borrowing as it grapples with reviving an economy that shrank by the most in a quarter century last year due to the coronavirus pandemic.

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