*Exchange Rate At N379/1US$

The Senate has passed the 2021-2023 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) while pegging the crude oil benchmark at $40 per barrel for the 2021 budget.

This was done after a harmonised report of the Joint Finance Committee of the Senate and House of Representatives was considered.

Chairman of the Senate Committee, Senator Olamilekan Solomon Adeola, said after due deliberations, the joint committee also recommended that daily crude oil production should be 1.86 million barrels per day (mbpd); exchange rate at N379 to $1; Gross Domestic Product (GDP) rate at three per cent; inflation growth rate at 11.95%; and the Federal Government retained revenue at N7.99 trillion.

The proposed expenditure was pegged at N13.58trn while the fiscal deficit is N5.60trn. The new borrowing is N4.28trn (both foreign and domestic), statutory transfers at N484.4 billion, debt service is N3.12trn, and sinking fund is N220bn.

Other indices considered include pension, gratuities and retirees’ benefits, N520.6bn; total expenditure, N13.58trn; and total recurrent (non-debt) N5.66trn.

The personnel cost for FG’s Ministries, Departments and Agencies (MDAs) is N3.05trn; capital expenditure (excluding transfers) is N3.58trn; special intervention (recurrent) N350bn; and special intervention (capital) is N20bn.

Follow Our WhatsApp Channel ______________________________________________________________________________________________________

[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials

“Evidence Act: Complete Annotation” by renowned legal experts Sanni & Etti.

Available now for NGN 40,000 at ASC Publications, 10, Boyle Street, Onikan, Lagos. Beside High Court, TBS. Email publications@ayindesanni.com or WhatsApp +2347056667384. Purchase Link: https://paystack.com/buy/evidence-act-complete-annotation

______________________________________________________________________ “Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence

Interested buyers are encouraged to place their orders and enquiries via: 0704 444 4777, 0704 444 4999, 0818 199 9888 Website: www.alexandernigeria.com

______________________________________________________________________ Groundbreaking Guide For Lawyers: Adigwe Publishes ‘Artificial Intelligence For Lawyers’ With Free Research eBook The book also examines Nigeria's legal ecosystem, focusing on the LPELR and NBA AI Guidelines. As a bonus, every purchase comes with a FREE eBook titled: How to Use the AI Features in LegalPedia and LawPavilion. Ohio Books Ltd praises the publication, stating: "....this is the only Nigerian book I know of on the topic." How to Order: 📞 Call, Text, or WhatsApp: 08034917063 | 07055285878 📧 Email: benadigwe1@gmail.com 🌎 Website: www.benadigwe.com Ebook Version: Access it directly online at https://selar.com/prv626 Authored by Ben Ijeoma Adigwe Esq., ACIarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria. ______________________________________________________________________