Good Morning Nigeria: MTEF: the assumptions and policies
​MTEF: the assumptions and policies
The new administration has revealed its fiscal colours in the 2016-18 Medium Term Expenditure Framework (MTEF), which the head of state sent to the president of the Senate on 08 December. We will look today at some underlying policies and subsequently at the numbers. Our first point is that the framework is pragmatic on the oil price, projecting averages of US$38/b for next year and US$50/b for 2018. That it invites comparisons with 1986 reinforces our point. The document notes that the FGN has the capacity to boost official production, referring to “new state-of-the-art surveillance†systems, and not the international price.
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