Senate Passes MTEF, Retains $57 Per Barrel As Oil Benchmark

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TDPel Media

Nigerian Senate have passed the Medium Term Expenditure Framework (MTEF) and retained the oil benchmark for the 2022 budget at $57 per barrel. The Red Chamber on Wednesday approved the 2022 – 2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) and maintained the crude oil benchmark price of $57 per barrel. The Upper Legislative Chamber did not make any adjustments to the aforementioned assumptions, which was proposed by Federal Executive Council, chaired by President Muhammadu Buhari. The Senate also put the daily crude oil production at 1.88 million barrels per day a…

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