Farm laborers sit on top of sugar cane on a truck in the northeastern state… ENLARGE Farm laborers sit on top of sugar cane on a truck in the northeastern state of Zamfara. Nigeria, whose economy surpassed South Africa in April as the continent’s largest, has striven to generate revenue beyond oil. ? Akintunde Akinleye / Reuters Nigeria’s finance ministry proposed a lower benchmark for the budgeted oil price, suggesting spending cuts after the commodity’s relentless slide in recent weeks. Paul Nwabuikwu, a spokesman for the Ministry of Finance, said on Thursday that Africa’s biggest crude producer is now budgeting for an oil price of $65 per barrel, compared with the previous estimate of $73. “In view of the present realities, we have readjusted,” he said. “We hope to cut down extensively on our recurrent expenditure in the 2015 budget.” Oil and natural gas make up almost all of […]