FG to peg oil price benchmark at $42.5 in 2017

The Federal Government will base the 2017 budget on an oil price benchmark of $42.5 per barrel. Oil price currently stands at about $48.9 per barrel.

This is one of the key highlights of the Medium Term Expenditure Framework (MTEF) for

2017 to 2019, which was approved by the Federal Executive Council, in Abuja, yesterday.

Minister of Budget and National Planning, Udoma Udo Udoma, disclosed this while briefing State House correspondents at the end of the FEC meeting presided over by President Muhammadu Buhari.

ALSO READ:I will keep my oath at all cost-Buhari vows

According to him, budgets 2018 and 2019 will be based on benchmarks of $45 per barrel and $50 per barrel, respectively.

Similarly, oil production projections have been put at 2.2 million barrels per day for 2017, 2.3 million barrels per day for 2018 and 2.4 million barrels per day for 2019.

Sen Udoma also disclosed that the MTEF, which would soon be forawarded to the National Assembly, contained growth rate outlooks of 3 per cent for 2017, 4.26 per cent for 2018 and 4.04 per cent for 2019.

Comments

WHAT'S HOT

84-year-old woman dies after being stung more than 500 times by swarm of bees (photos)

An 84-year-old woman from Brazil died after she was stung by a whole beehive She was out collecting firewood when she disturbed the bees who stung her until rescuers arrived The old woman died from the beestings on her way to the hospital 84-year-old Divina Ambrósio de Jesus from Brazil recently died after she got stung by a swarm of bees. The beestings covered the old woman's body including her face The old lady was out collecting firewood when she accidentally disturbed a beehive. The bees repeatedly sting the old lady for 30 minutes.

Russian Hackers Used Kaspersky Software To Steal NSA Secrets And Code

According to a report from WSJ , NSA’s classified data, which wasn’t supposed to leave the facility’s perimeter where a contractor worked, was stolen by Russian hackers. This incident

How To Connect Android or iOS Phone To Windows 10

The Continue on PC feature is currently available to Windows Insiders, but it’ll arrive for regular users once the update starts landing on their PCs. If you’re running an Insider build, you can use the steps mentioned in this post to connect your phone to Windows 10 PC.

Google Announces New Camera Called Google Clips

The core of the camera is AI engine which does the processing part and gets smarter over time. Clips can detect people and subjects using machine learning that happens on the system itself.

9JABREEZELAND

Search This Blog