Senate passes MTEF-FSP with borrowing plan of N7.8trn
The Senate approved the framework with an exchange rate of N700 to a U.S. dollar and adopted the benchmark of oil price for 73 dollars per barrel of crude oil and 1.78 million barrels per day.
The Senate on Wednesday passed the 2024-2026 Medium Term Expenditure Framework and the Fiscal Strategy Paper (MTEF-FSP).
The upper chamber passed the framework after considering a report submitted by its Committee on Finance during the plenary.
Chairman of the committee, Sani Musa (APC, Niger East) presented the report.
President Bola Tinubu transmitted the MTEF-FSP to the National Assembly for consideration and approval on 31 October.