*Targets N3.6tn oil revenue, $60/b benchmark, 2.3mbpd oil production
* To provide for possible minimum wage increase
By Ndubuisi Francis in Abuja
Yielding to increasing domestic and global realities, the federal government is targeting a tighter fiscal plan, with a projected budget of N8.65 trillion in 2019.
The move to cut the 2019 budget from N9.12 trillion in 2018 to N8.65 trillion, the government explained, is predicated on the need to ensure prudence, reduce deficit and borrowing while laying greater emphasis on revenue drive.
The Minister of Budget and National Planning, Senator Udoma Udo Udoma, who gave these indications in Abuja Thursday at a public consultation on the 2019 – 2021 Medium Term Fiscal Framework (MTEF) and Fiscal Strategy Paper (FSP), said: “We want to reduce borrowing and deficit in terms of the budget size.”
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