The Senate on Wednesday passed the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) of the Federal Government.
The Upper Chamber also okayed N13.98 trillion as the total aggregate expenditure of the Federal Government for the 2022 fiscal year.
The red chamber retained the exchange rate of N410.15 per dollar proposed by the Executive and also approved the projected Gross Domestic Product growth rate of 4.20 per cent.
These approvals followed the consideration of the report of the Senate Joint Committee on Finance, National Planning and Economic Affairs; Foreign and Local Debts; Banking, Insurance and Other Financial Institutions; Petroleum Resources (Upstream); Down Stream Petroleum Sector; and Gas, on the 2022-2024 MTEF/FSP, by the Senate.
Chairman of the Joint Committee, Senator Solomon Adeola, presented the report.