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Dienstag, 2. Dezember 2008

Nigeria will expand 8,9%

Nigerian President Says GDP to Expand 8.9% Next Year
By Paul Okolo Dec. 2 (Bloomberg) --
Nigeria’s economic growth will accelerate to 8.9 percent next year, led by non-oil industries, President Umaru Yar’Adua said. Growth will pick up from about 7 percent this year, even as the oil industry contracts for a second year, Yar’Adua said in a budget speech in Abuja today. Total fiscal expenditure in Africa’s most populous nation will reach 2.87 trillion naira ($23.9 billion) in 2009, Yar-Adua said, while tax revenue will total 1.77 trillion naira. About 797 billion naira will be spent on providing power, roads and bridges in a bid to improve the business environment, the president said. “The 2009 budget is to deliver on our promises to reduce poverty and attain our millennium development goals,” he said. Oil production will drop to 2.29 million barrels a day next year from 2.45 million barrels in 2008. more more details here at Bloomberg...

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