Nigeria’s House of Representatives has stepped down consideration of the 2022-2024 Medium Term Expenditure Framework and Fiscal Strategy Paper, MTEF/FSP, which was billed to be presented and considered by the lawmakers at plenary on Tuesday.
The consideration of the MTEF report which was scheduled on the order paper for the day was set aside as the chairman of the committee on finance James faleke was absent from plenary.
The Committee’s proposals include a benchmark of $57 per barrel for the price of crude in 2022 and 55 dollars in 2023.
The lawmakers are also proposing an oil production of 1.93 million barrels of crude per day as well as an exchange rate of N410.15 to the dollar.
The committee is proposing an expected Gross Domestic Product growth rate of 4.2% while pegging the inflation rate at 13%.
These details are however sequel to late minute changes by the lawmakers.