Nigeria, Sept. 22 -- The Senate has approved the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

President Muhammadu Buhari had in July forwarded the 2022-2024 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) to the National Assembly for approval.

In approving it on Wednesday, the Senate maintained the crude oil benchmark price of $57 per barrel for 2022 as proposed by President Muhammadu Buhari - higher than the corresponding benchmark of $40 for 2021.

It also approved the total estimated expenditure of N13.98 trillion which includes the expenditures of N1.44 trillion for Government Owned Enterprises and donor funded projects amounting to N62.24 billion.

The sums of N15.46 t...