She said the review of the estimates was considered in the light of the dwindling revenues available to the government. Nigeria
Conversely, it plans to raise recurrent expenditure to 79 per cent from 68 per cent in the coming budget.
Other parameters in the spending framework include the scaling down of daily oil mineral production level from this year’s 2.3 million barrels to 2.18 million barrels; an oil price benchmark reduction from $60 to $55 per barrel while however retaining the exchange rate at N305 per dollar. She said the review of the estimates was considered in the light of the dwindling revenues available to the government.
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