OpeOluwani Akintayo Lagos — Nigerian Senate on Tuesday increased the oil benchmark in the country’s 2020 national budget by $3…
Browsing: Fiscal Strategy Paper
The measures that will be implemented through 2021, are aimed at improving transparency, service delivery, and re-establishing investor confidence, and hence, investment in the sector. It will also accelerate electricity access including off-grid public private partnerships as an important component of the PSRP.
The National Assembly is expected to pass the budget before the end of 2017 to enable the Executive to begin its implementation on January 1, 2018.
Oscarline Onwuemenyi 07 November 2017, Sweetcrude, Abuja – President Muhammadu Buhari on Tuesday formally presented about N8.612 trillion as the…
Osinbajo said, “Going forward, we have agreed with the National Assembly leadership on the necessity to get Nigeria back onto a predictable January to December fiscal year. To achieve this, the 2018 budget needs to get to the National Assembly no later than early October so that the National Assembly can conclude work on it before the end of the year.”
He said, “Hopefully, if we pass this MTEF/FSP, we will be in the position to comment on the consideration of the 2017 budget by next week. It is therefore important that we conclude the discussion on this subject and ensure that it is passed today.”
“In reality, the Naira should not be affected more than the N305,” she argued, explaining that this was so because the CBN had put in place measures to stimulate more supply of dollars to deal with its shortage in the market.”
Ahead of the commencement of debate, the Senate, barring any last-minute change of plan, is expected to hold its second interactive session with Civil Society Organizations (CSOs) on the nation’s budgeting system today.
He pointed out that In terms of oil production, the government is keeping to the same level of this year for 2017 and that is 2.2 million barrels per day. For 2018 2.3 million barrels per day, for 2019 2.4 million barrels per day.