Nigeria: Tinubu Transmits Mtef to National Assembly

19 November 2024
Premium Times (Abuja)
By Bakare Majeed

The Federal Executive Council (FEC) approved the MTEF last week.

President Bola Tinubu has transmitted the 2025-2027 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) to the National Assembly for consideration and passage.

A copy of the letter was read by the Speaker of the House of Representatives, Abbas Tajudeen, on the floor on Tuesday.

MTEF is a three-year rolling plan used as a framework for the annual budget.

PREMIUM TIMES had reported that the Federal Executive Council (FEC) approved the policy document last week.

In the MTEF approved by the FEC, the crude oil benchmark was set at $75 per barrel, with oil production projected at 2.06 million barrels per day (bpd).

The government also pegged exchange rate parameters at N1,400 per dollar and set a gross domestic product (GDP) growth rate of 6.4 per cent.

Details to follow...

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