The senate has approved the medium-term expenditure framework and fiscal strategy paper (MTEF/FSP) ahead of the consideration of the 2025 budget proposal.
The senate has approved the medium-term expenditure framework and fiscal strategy paper ahead of the consideration of the 2025 budget proposal.
The upper legislative chamber approved the documents on Tuesday, after Sani Musa, chairman of the finance committee, presented a report on the MTEF/FSP. The approved framework also contains a daily oil production output of 2.06 million, 2.10 million, and 2.35 million barrels for the three years. “Capital expenditure is projected at N16.48 trillion, which is exclusive of transfers; statutory transfers stand at N4.26 trillion; the sinking fund is projected at N430.27 billion, while total recurrent expenditure is projected at N14.21 trillion,” the report reads.
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