The joint National Assembly Committee on Finance and National Planning on Thursday submitted its report on the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper to the Senate at plenary.
The report noted that the Federal Government did not capture the salaries of the 30, 000 personnel it is planning to recruit into the Army, Police, and other paramilitary agencies next year, in the documents. Presenting the report, the Chairman, Senate Committee on Finance, Solomon Adeola, also said the joint panel recommended the adoption of $57per barrel as crude oil benchmark.
He also said it reduced borrowings with over N200 because of the expected revenue from the Nigerian Customs Service. The report increased the proposed total estimated expenditure of the Federal Government from N10.002tn to N10,729.4tn. The debate on the report is ongoing as of the time of filing this report.