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Senate passes 2022-2024 MTEF/FSP, approves FG N13.98trn budget projection for 2022 tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
By Ikechukwu Okaforadi The Senate, shortly before it adjourned plenary on Thursday, passed the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). The passage of the document was sequel to the consideration of a harmonized conference report of the Joint Committee of the Senate and House of Representatives. In his presentation, Chairman of the Committee on Finance, Senator Olamilekan Solomon Adeola (APC – Lagos West), said the Conference Report of the Senate and House of Representatives was a harmonized position of both chambers upon examination of the differences contained in the 2021-2023 MTEF/FSP document. According to the lawmaker, the Joint Committee of the two chambers after due deliberations gave the following recommendations: that Daily crude oil production be pegged at 1.86mbpd; Benchmark oil price at US$40 per barrel; Exchange rate at N379 to $1USD; Gross Domestic Growth (GDP) rate at 3 percent; inflation growth rate at ....
Share The Senate on Thursday passed for third reading, the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). Senator representing Lagos West and chairman, Senate Committee on Finance, Olamilekan Solomon Adeola presented the Conference Report of the Joint Committee of the Senate and House of Representatives on Finance on the floor of the Red Chamber. Senator Adeola, in his presentation, said the Conference Report of both chambers of the National Assembly was harmonised, based on differences contained in the 2021-2023 MTEF/FSP document. Senator Adeola enunciated the recommendations of the joint committee after exhaustive deliberations to include crude oil production ceiling at 1.86mbpd at US$40 per barrel, exchange rate at N379 to $1USD; Gross Domestic Growth (GDP) rate at 3 per cent; inflation growth rate at 11.95 per cent; and FGN retained revenue at N7.99 trillion. ....