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2013 Budget: Nweke Jnr describes demand for increased benchmark price as tragic

Channels Television  
Updated October 4, 2012

Frank Nweke Jnr, the Director General of the Nigeria Economic Summit Group (NESG) on Thursday said that his group does not support the House of Representatives’ demand to increase the benchmark price of crude oil in the 2013 budget from $75 to $82.

Mr Nweke, who was a guest on Channels Television’s breakfast programme, Sunrise Daily, said that the NESG also does not support the “perennial altercation between the legislature and the executive” arms of governments.

“This latest jack-up in the benchmark price for the 2013 budget is ill-advised. When I first got information about this yesterday, I described it as tragic,” he said.