Buhari submits MTEF to National Assembly

President Muhammadu Buhari

President Muhammadu Buhari on Wednesday, September 25 submitted the 2020 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the National Assembly.

Senate President Ahmad Lawan read President Buhari’s letter at the plenary.

In his letter, the President urged the lawmakers to accord the documents urgent legislative action.

According to Punch, Some of the highlights of the 2020-2022 MTEF/FSP documents already released by the executive includes:

Pegging of the projected budget profile for the year at N8.7trn, and $55 oil price benchmark.

It also included 2.1m barrel oil production per day.

Recall that the federal government pegged oil price at $60 with 2.3m barrels per day and N8.9trn as 2019 budget.

Details later.

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