Buhari Submits 2017 Draft Budget To Senate With “Exchange Rate of N290/$1”

By  | 
Use your ← → (arrow) keys to browse

President Muhammadu Buhari on Tuesday submitted a draft budget for 2017 Fiscal year to the Senate for approval.

The plan assumes an oil price benchmark of $42.5 per barrel and production of 2.2 million barrels a day.

It also assumes an exchange rate of N290 to the U.S. dollar. The exchange rate is supposedly floating and currently trades above N315 at the interbank market.

READ:  74-year-old Man Defiles Two Young Girls Inside Workshop in Delta...Shocking Details

The Federal Government proposed the sum of N6, 866,335,052,740 as budget for 2017 fiscal year. This compares to the N6,060,677,358,227 budgeted for the 2016 fiscal year.

READ:  Dancer Kaffy And Son Covers Pregnancy And You' Magazine

These were contained in the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) submitted to the Senate by President Muhammadu Buhari on Tuesday. 

Use your ← → (arrow) keys to browse

READ:  Don Jazzy sad over N2m donation to cancer patient

Related Post


Got real life stories, gossip, tip-off, happening-right-now photos, compelling and inspiring stories to share? Send us an email: info@kanyiokeke.com or tag us on Twitter: @KanyiOkeke. You can also send us stories and pictures through whatsapp 08056663554

Leave a Reply

Your email address will not be published. Required fields are marked *