The Nigerian government expects the country to produce 1.88 million barrels per day of crude oil in 2022 and will use a benchmark oil price of $57 per barrel for its budget planning, according to a document approved by the Senate on Wednesday.
The Medium-Term Expenditure Framework (MTEF), a crucial part of the annual budget preparation cycle, also showed projected GDP growth of 4.2% and inflation of 13% in 2022.
It gave a total federal government 2022 expenditure figure of 13.98 trillion naira ($34.01 billion) with an expected fiscal deficit of 5.62 trillion naira ($13.67 billion)…
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