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House Approves MTEF, Pegs Exchange Rate At N,400/$, Oil Benchmark At $75

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  The House of Representatives has approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) submitted by President Bola Tinubu. To this end, the green chamber pegged the exchange rate at N1,400/$ for 2025, 2026 and 2027 respectively.

The Nigerian House of Representatives has approved the 2025-2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP), setting the exchange rate at N1,400 to the dollar and the oil benchmark at $75 per barrel. This decision was made to provide a stable economic framework for the upcoming fiscal years. The approval came after extensive deliberations on the economic assumptions and projections, aiming to ensure fiscal discipline and economic stability. The MTEF outlines the government's revenue and expenditure plans, with the goal of promoting economic growth, reducing inflation, and managing the country's debt profile effectively. The framework also considers the global economic environment, including oil price volatility and currency fluctuations, to safeguard Nigeria's economic interests.

Read the Full This Day Article at [ https://www.thisdaylive.com/index.php/2024/11/27/house-approves-mtef-pegs-exchange-rate-at-n1400-oil-benchmark-at-75/ ]