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FG proposes N6.866 trillion budget for the year 2017

FG proposes N6.866 trillion budget for the year 2017; Pegs oil benchmark at $42.50‎ per barrel, exchange rate of N290 per dollar, target 2.2m bpd‎

*Pegs oil benchmark at $42.50‎ per barrel, exchange rate of N290 per dollar, target 2.2m bpd‎

Federal government on Tuesday proposed ‎N6.866 trillion for 2017 budget, just as it pegged oil benchmark at $42.5 per barrel with 2.2 million oil production per day.

This was contained in Medium Term Expenditure Framework forwarded to National Assembly by President Muhammadu Buhari.

According to the MTEF, the exchange rate was pegged at N290 to dollar. 

N1.6 trillion will be used for debt servicing and N370 billion for statutory transfer in the 2017 budget. 

Presidential Amnesty programme will spend N65 billion.

Details later‎…

 

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