Tag: Oil Benchmark
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2020 Budget: FG reduces oil benchmark to $55/Barrel
The federal government, through the Minister of Finance, Budget and Planning, Mrs Zainab Ahmed, has lowered benchmark for oil price for the 2020 budget to $55 per barrel from $60 per barrel in the 2019 Appropriation Act. The Finance Minister made this known on Tuesday at the presentation of the Medium-Term Expenditure Framework and Fiscal…
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Minister allays fears over 2019 budget oil price benchmark
The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, on Wednesday in Abuja allayed fears over the oil price benchmark for the 2019 budget. There have been concerns by stakeholders that the 60-dollars-per-barrel projection was too ambitious considering the volatility of the international crude market. But Udoma told a National Assembly joint committee…
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FEC approves 2018-2020 MTEF, sets oil benchmark at $45 per barrel
The Federal Executive Council, FEC, on Wednesday during its weekly meeting approved the 2018-2020 Medium Term Expenditure Framework, MTEF and the Fiscal Strategy Paper, FSP. The Minister of Budget and National Planning, Udoma Udoma, told reporters in Abuja after the meeting that the highlights of the MTEF showed government’s commitment to achieving seven per cent…