The House of Representatives has passed the Medium Term Expenditure Framework for 2019 to 2021 and Fiscal Strategy Paper for 2019.
This follows the adoption of a report of the joint committees on Finance, Appropriations, Aids, Loans and Debt Management, Legislative Budget and Research and National Planning and Economic Development on the MTEF and fiscal strategy.
The lawmakers, who adopted the recommendations of 2.3 million per barrel as the daily production output of crude oil in 2019, also adopted the recommendations of $60 per barrel as crude benchmark price for the 2019 Budget.
Rep. Babangida Ibrahim (APC-Katsina), Chairman, House Committee on Finance, during the debate, urged the House to adopt the recommendations of the joint committees so that 2019 Budget could be expeditiously considered and passed by the legislature.
President Muhammadu Buhari had, on November 6, 2018, transmitted the MTEF/FSP document to the house for consideration.
The President had also sent a revised copy in March with key assumptions and macro-framework for the 2019 Budget.