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Iran’s 2019 budget points way for Nigeria on reducing oil dependence

… Budget least tied to oil among OPEC member states

Faced with US sanctions which has cut nearly 1million barrels per day (bpd) from its daily production of over 2.7million bpd, Iran has drawn up a micro policy hinged on cutting down dependency on oil revenues, providing a lesson on diversification for Nigeria where oil is still responsible for up to 70 percent of income….



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