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Nigeria Cuts Budget Spending Plan for 2012, Thisday Reports

Nigeria has reduced proposed 2012 spending to 4.6 trillion naira ($29 billion) from 4.7 trillion naira, Thisday reported, citing Minister of Finance Ngozi Okonjo-Iweala. The budget includes a subsidy of 888.1 billion naira for petrol and kerosene, she said.

To contact the reporter on this story: Emele Onu in Lagos at eonu1@bloomberg.net

To contact the editor responsible for this story: Dulue Mbachu at dmbachu@bloomberg.net

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