Reps Get 2019 Budget Report

0
87
House of Reps logo

By; IYOKPO J. EGBODO, Abuja

The House of Representatives has received report of the 2019 budget, as its joint committee on appropriations and finance laid the document on Wednesday.

President Muhammadu Buhari in December 2018 laid the budget estimates totaling N8.83 trillion before a joint session of the National Assembly.

The House which has adjourned plenary for the Easter break may expectedly, commence its passage process as it resumes next Tuesday.

The House had last week passed the 2019-2021 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP), preparatory to the passage of the budget.

Key assumptions as passed in the MTEF/FSP included a crude oil daily production of 2.3 million barrels,  crude oil benchmark price of $60 per barrel, N305 to $1 as official exchange rate, while a new borrowing to fund budget deficit was fixed for N1.6 trillion.

LEAVE A REPLY

Please enter your comment!
Please enter your name here