2017 Budget: Federal government to issue new oil licences

- The federal government will issue new oil licences in 2017

- This is part of efforts to explore new streams of revenues

- The funds are to be used to fund the 2017 budget

The minister of budget and national planning, Mr Udoma Udo Udoma has revealed that the federal government will issue new oil licences in 2017, NAN reports. 

Minister Udoma says the plan is part of the government efforts to explore new streams of revenues

The minister made the comment when he appeared before the Senate Joint Committee on Appropriation and Finance to defend the revised Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP).

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