The House of Representatives has approved the 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

The House approved a benchmark oil price of $73.96, $73.76 and $69.90 per barrel, for 2024, 2025, and 2026 respectively.

The green chamber also approved exchange rates of N700, N665.61 and N669.79 to USD$1 proposed by the executive for the period: 2024 – 2026.

The lower chamber proposed the Gross Domestic Product (GDP) growth rates at 3.76%, 4.22%, and 4.78% during the years 2024, 2025, and 2026 with an inflation rate of 21.40% in 2024, 20.30% in 2025, and 18.60% in 2026.