FEC approved Medium Term Expenditure Framework (MTEF)

 The Minister of Budget and National Planning, Udoma Udo Udoma, unveiled this to State House reporters toward the end of the meeting directed by President Muhammadu Buhari. The Federal Executive Council (FEC) on Wednesday affirmed the Medium Term Expenditure Framework (MTEF) for 2017 to 2019.According to him, the 2017 Budget and others will be founded on the framework.He said the oil value benchmark for the period incorporates $42.5 per barrel for 2017, $45 per barrel for 2018 and $50 per barrel for 2019.
Oil generation in the system, he said, has been pegged for 2.2 million barrels for each day for 2017, 2.3 million barrels for every day for 2018 and 2.4 million barrels for every day for 2019.According to the priest, the structure altered development rate at 3 for each penny for 2017, 4.26 for every penny for 2018 and 4.04 for each penny for 2019.Udoma said the conversion standard of N290 to $1 has been projected.He said the system will be sent to the National Assembly for endorsement.

If You Enjoyed This Post Please Take 5 Seconds To Share It.

Get updates directly to your email

Join our Free newsletter to get all the tutorials, latest freebrowsing, gadgets and mobile reviews, Best internet data plans, and blogging tips