NASS approves $53 benchmark for 2015 budget

The two chambers of the National Assembly, has approved 53 dollars as benchmark for the sale of crude oil for the 2015 budget and the 2015 - 2017 Medium Term Expenditure Framework.

Rep. Victor Ogene, Deputy Chairman, House of Representatives Committee on Media and Public Affairs, made the disclosure on Thursday in Abuja in an interview with newsmen.

He said that a resolution by the conference committee of legislators from both chambers of the National Assembly also adopted an exchange rate of N190 to one dollar.

2015 budget: Reps kick against $65 benchmark

The House of Representatives has rejected the $65 benchmark proposed in the 2015 budget by the executive.

It said the 2015 proposed budget was based on certain policy thrusts, instruments and assumptions that were flawed and must be “critically” addressed.