Nigeria’s House of Representatives pegged the exchange rate of the naira to the dollar at N350, as against the N290 recommended by the executive in the Medium Term Expenditure Framework.
The House also agreed with the government on the oil benchmark of 42.5 dollars per barrel, with a proposed daily production of 2.2 million barrels.
House leader, Femi Gbajabiamila moved for the adoption of the financial document, citing provisions of the Fiscal Responsibility Act. 2007 as amended.
Other members bared their minds on the feasibility of the MTEF as presented by the Executive arm of government.