Iraq Adjusts Oil Pricing Strategy in Response to Market Decline

Iraq has recently announced significant changes to oil pricing in its federal budget, citing a substantial downturn in oil market values. As a nation that heavily relies on oil exports for its economic stability, this decision marks a critical response to the ongoing volatility in global oil prices.

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Nigeria's Ambitious Budget Strategy: Tinubu Relies on Oil Revenue for Massive Spending Plan

Nigeria's government, under President Bola Ahmed Tinubu, is preparing to unveil one of the nation's most ambitious budgets in its history, banking heavily on oil revenues to support an unprecedented level of spending. The proposed budget for 2024 is set to reach an impressive 28.1 trillion naira (approximately $37 billion), marking a substantial increase from the previous year's budget of 21.9 trillion naira.

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