"/" Senate Endorses MTEF/FSP and Investigates NNPCL for Withholding 8.4 Trillion Naira in Subsidy Funds - NewStridez

Senate Endorses MTEF/FSP and Investigates NNPCL for Withholding 8.4 Trillion Naira in Subsidy Funds

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Ahead of the 2025 budget presentation by President Bola Tinubu, the Nigerian Senate approved the 2025–2027 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP). This approval, led by Senator Sani Musa, comes with key mandates. The Senate tasked its committees to investigate claims of withheld funds by the Nigerian National Petroleum Company Limited (NNPCL), including unremitted taxes totaling $2 billion. Projections for 2025 include an oil benchmark of $75, GDP growth of 4.6%, and an exchange rate of N1,400/$. They emphasize supporting manufacturing for these projections to succeed.

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Question: How will these economic projections impact everyday life in Nigeria?



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