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Friday, January 1, 1999 Published at 16:40 GMT World: Africa Nigeria unveils 1999 budget The military government of Nigeria has unveiled a budget for 1999, warning that hard and painful decisions are necessary following the collapse of world oil prices. The Nigerian leader, General Abdulsalami Abubakar, said that government revenue -- heavily reliant on oil earnings -- was likely to fall by about half. He said the country could no longer afford the minimum wage for civil servants, a reform introduced in September. And he also announced the immediate ending of a dual exchange rate which privileged groups have been allowed to use. The BBC correspondent in Nigeria says that while the new moves show a willingness to tackle corruption, the public will be more concerned by the inevitability of falling living standards. From the newsroom of the BBC World Service |
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