The federal of Nigeria has revised the Medium Term Expenditure Framework, (MTEF) document, projecting 2.5% economic growth for 2017 rather than earlier 3.02.
The Budget Minister Udoma Udoma at Senate hearing on the new document.
Udoma added that $42.5 cents per barrel is now the new oil benchmark price for the 2017 budget.
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Similarly, the Director General of the Budget Office, Ben Akabueze disclosed that the official exchange rate for 2017 budget has been revised from N290 to $ to N305 to $1.
Akabueze also disclosed that the 2017 Budget Deficit has come down from N2.438trillion to 2.356 trillion and Deficit to GDP ratio is now 2.18% says FG in revised MTEF document according to Akabueze.
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