FEC begins 2017 budget preparation, approves MTEF

0
695

The Federal Executive Council has approved the Medium Term Expenditure Framework and Fiscal Strategy Paper for 2017 to 2019, thus kick-starting the preparation of the 2017 budget. The approval was given at a meeting of the council presided over by President Muhammadu Buhari.

The Minister of Budget and National Planning, Senator Udo Udoma; the Minister of Industry, Trade and Investment, Mr. Okechukwu Enelamah; and the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, briefed State House correspondents about the meeting outcome.

- Advertisement -

Udoma gave the highlights of the approved document to include oil price benchmark of $42.50 for 2017; $45 for 2018; and $50 for 2019. In terms of oil production, he said the government would retain this year 2.2 million barrels per day for 2017; 2.3 million barrels per day for 2018; and 2.4 million barrels per day for 2019.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here