The Senate will today pass the revised 2022 fiscal framework before adjourning for the Easter break.
This was disclosed by the Senate President Ahmad Lawan after the report of the Committee on Finance was stepped down yesterday consideration.
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The Senate Leader, Yahaya Abdullahi, who moved a motion for the report to be stepped down, explained that its deferred consideration till Thursday, April 14, 2022, would allow lawmakers make their inputs.
President Buhari, in the letter dated 5th April, 2022, requested the Senate to adjust the 2022 fiscal framework.
He said doing so became necessary in view of new developments in both the global and domestic economies.
He, therefore, requested the upper chamber to approve an increase in the oil benchmark by US$11 per barrel, from US$62 per barrel to US$73 per barrel.
The President also sought a reduction in the projected oil production volume by 283,000 barrels per day, from 1.883 million barrels per day to 1.600 million barrels per day.
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