President Muhammadu Buhari is visiting the National Assembly to lay a Budget Proposal for the 2022 financial year.
The 16.39 trillion Naira budget is 2.79 trillion Naira higher than the 2021 Budget.
Preparatory to the budget laying, the National Assembly on Wednesday adopted the 2022-2024 Medium Term Expenditure Frameworks, MTEF, and Fiscal Strategy Paper, FSP.
In adopting the MTEF/FSP, the lawmakers maintained the oil benchmark at $57 per barrel higher than the $40 per barrel approved in 2021.
Other parameters approved were the exchange rate of N410/$, daily crude oil production of 1.88mbpd, 2.23mbpd, and 2.22mbpd for 2022, 2023, and 2024.
Confidence Okwuchi
