Nigeria to witness downturn in crude oil export in 2014 – FG
Nigeria may witness a drastic fall in the demand for crude oil from the global market in 2014, the federal government has disclosed.
This disclosure is contained in Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) submitted to the National Assembly by President Goodluck Jonathan last week.
MTEF and FSP usually provide the basis for annual budget planning and consist of a macro-economic framework that indicates fiscal targets. The document also estimates revenues and expenditure including government financial obligations in the medium term between 2014 and 2016 fiscal years.
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