JUST IN: Senate passes the 2018-2020 Medium Term Expenditure Framework

Published

5 December 2017

2:56 PM

-The Senate has pegged the exchange rate at N305 to $1

Senate passes MTEF, FSP

The Nigerian Senate has passed the 2018-2020 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP).

In the documents, the Upper Chamber fixed the exchange rate at N305 to $1.

Also, barrel of oil was fixed at $46, while daily production was pegged at 2.3 million barrel per day.