FEC Approves N13trn 2021 Budget Proposal

The minister put the oil benchmark has been pegged at $40 per barrel with a production level of 1.86 million barrels per day and an exchange of N379 per dollar.

Minister of Finance and Budget planning, Mrs. Zainab Ahmed, says government is worried over the fate of oil revenue / Photo credit: premiumtimesng.com
Minister of Finance and Budget planning, Mrs. Zainab Ahmed, says government is worried over the fate of oil revenue / Photo credit: premiumtimesng.com

The Federal Executive Council (FEC) on Wednesday approved a proposed budget of N13.08trn

Capital Expenditure for the 2021 budget proposal has been set at N2.083trn.

The Minister for Finance, Budget and National Planning, Zainab Ahmed, who addressed the media after the weekly FEC meeting at the state laid some key highlights of the proposed budget.

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The minister put the oil benchmark has been pegged at $40 per barrel with a production level of 1.86 million barrels per day and an exchange of N379 per dollar.

The proposal targets a Gross Domestic Product (GDP) growth of three per cent and an inflation rate of 11.95 per cent.

The Minister, had the Minister of State for Budget and National Planning, Clement Agba; the Minister for Information and Culture Alhaji Lai Mohammed and the Director-General of the Budget Office, Mr Ben Akabueze by her side during the address to the media.

Written by The Interview Editors

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