Nigerian central bank tells government to act on oil
The Central Bank of Nigeria's Monetary Policy Committee has urged the government to avoid complacency over tax revenues and to "fast track" efforts to support the oil industry, which represents a weak link in an otherwise largely robust economy.
At a monetary policy meeting on January 21 the committee voted to hold rates at 12%, citing a "relatively robust" economy, which grew at around 6.6% in 2012, and stable headline inflation of 12.2% in 2012. The committee considered lowering rates, but
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