The House of Representatives has passed the Medium Term Expenditure Framework and Fiscal Strategy Paper for 2025 to 2027 as submitted by President Bola Tinubu.
This followed the consideration and approval of the recommendations of the Joint Committee on Finance and National Planning which laid its report at Wednesday’s plenary.
The House adopted the projected oil benchmark prices pegged at 75 dollars per barrel for 2025, as well as 76.2 dollars and 75.3 dollars per barrel for 2026 and 2027.
Domestic Crude Oil Production Projections for 2025 is put at 2.06 million barrels per day representing a significant increase from 1.78 million barrels per day in the current year.
GDP growth rate is projected at 4.6, 4.4 and 5.5 percent for 2025 to 2027, respectively, while the projected exchange rate is pegged at 1,400 Naira to the US Dollar for years 2025, 2026 and 2027
The MTEF projections aim towards a realistic and sustainable foundation for Nigeria’s budget planning over the next three years.
