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Nigeria assumes $42.50 oil price for 2017 budget -minister

Members of the Nigerian parliament attend the 2013 budget proposal presentation at a joint sitting of the parliament in the capital Abuja, October 10, 2012. REUTERS/Afolabi Sotunde (Reuters)

ABUJA (Reuters) - Nigeria's government has approved a 3-year spending plan, assuming a benchmark oil price of $42.50 per barrel and production of 2.2 million for the 2017 budget, the budget minister said on Wednesday. (Reporting by Felix Onuah; Writing by Chijioke Ohuocha; Editing by Toby Chopra)