2020 Budget: PMB sends MTEF /FSP to National Assembly

President Muhammadu Buhari on Wednesday forwarded the 2020/2022 Medium Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly for consideration.

The President in his letter read at plenary by Senate President Ahmad Lawan, urged the lawmakers to accord the documents urgent legislative action.

The MTEF /FSP contains the benchmark upon which the 2020 budget would be predicated.

Some of the highlights of the 2020-2022 MTEF/FSP documents already released by the executive are as follows:

Pegging of the projected budget profile for the year at N8.7trn, and $55 oil price benchmark as against $60 used for the N8.9trn  2019 budget .

It also included 2.1m barrel oil production per day as against 2.3 m barrels per day approved for the 2019 budget.

Details later.