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Buhari presents budget, FG expected to earn $4bn from oil in 2016
President Muhammadu Buhari said Tuesday that the federal government expects to earn N820 billion ($4 billion) from oil exports in 2016, based on a production assumption of 2.2 million b/d and a benchmark price of $38/barrel, Platts reports. This compares to this year’s projected oil earnings of N3.9 trillion ($19 billion) which was predicated on …