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 US dollars, 73.76 dollars and 69.90 dollars per barrel, for 2024, 2025, and 2026.

The green chamber also approved exchange rate of 700 naira, 665.61 naira and 669.79 naira to an American dollar 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.