Nigeria: MTEF - House Slashes Oil Benchmark to U.S.$54 Per Barrel

6 March 2015

Abuja — The House of Representatives has slashed the oil benchmark proposed by the federal government from $65 per barrel to $54 in order to give leverage to all tiers of government to make their inputs to a review process if it becomes necessary.

This was part of the recommendations of the joint House Committee on Finance, Appropriations, Aids, Loans And Debt and Legislative Budget Research, whose report on the Medium Term Expenditure Framework. (MTEF) and Fiscal Strategy Paper (FSP), was submitted to the House on Thursday.

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