2017 budget: Senate approves MTEF, raises oil benchmark price

Senate asks FG to conduct Fresh Census in 2018

The Senate has finally approved the amended 2017 to 2019 Medium Term Expenditure Framework and Fiscal Strategy papers submitted to it by President Muhammadu Buhari last October.

The approval of the bill will pave the way for the long delayed consideration of the 2017 Appropriation Bill, presented by Buhari to the National Assembly’s joint sitting last December 15.

The Senators who passed the bill after receiving the report of the Senate joint committees on finance, appropriation and National Assembly, approved most of the major projection of the Presidency.

The approved projection, include the daily production of 2.2 million barrels of crude oil, and the exchange rate of N305 to the dollar.

But the Senators increased the oil benchmark price from 42.5 dollar per barrel in the bill to 44.5 dollar.

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