Risks of Medium Term Expenditure Framework (MTEF)
i. Global development risk has led to fragile economic recovery and the
emergence of new political risks, which can be mitigated through
diplomatic engagements.
ii. Persistent oil price decline risk which is expected to remain in the
medium term, can be mitigated through diplomatic engagements for
oil cuts by producing countries and diversification of the revenue
base.
iii. Oil production and oil sector management risk which have bedevilled
by crude oil theft and oil pipeline vandalism, can be mitigated
through engagements with host communities, improved technology in
pipeline surveillance, etc.
iv. Non- oil revenue risks which are traceable to low remittance into the
treasury by government‟s owned enterprises for lack of transparency.
This can be mitigated through improved non-oil revenue drive and
capturing of more taxpayers into the tax net.