The House of Representatives has passed the 2015-2017 Medium Term Expenditure Framework (MTEF) and Fiscal Paper, and set the crude oil benchmark price at 54 dollars per barrel.
In a bid to ensure it completes work on the documents, the House received the report of its joint committee on the bill, considered and passed the recommendations put forward unanimously.
The oil benchmark price passed by the House is higher than the 52 dollars benchmark passed by the Senate last week.
The Senate had last Wednesday set the benchmark price of crude at $52 per barrel, against the benchmark price of $65 dollars per barrel set by the Federal Ministry of Finance.