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Nigeria Budget Signals Shift Away from Oil Dependence

Africa’s largest economy is seeking to diversify away from oil into mining and other sectors, amid low fuel prices and environmental concerns.

That was the message from Muhammadu Buhari, president of Nigeria, on Wednesday as he presented his first budget since taking office in May.

“The Nigerian economy needs to move away from dependency on oil,” President Buhari told lawmakers in the National Assembly in capital Abuja. “Our growth must be inclusive.”

Chatham House

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