The Federal Executive Council, FEC, on Wednesday approved the sum of N13.08 trillion as budget estimate for 2021.
Today’s meeting was presided over by President Muhammadu Buhari.
Zainab Ahmed, Minister of Finance, Budget and National Planning at the end of the meeting told journalists that that FEC had approved the budget estimates for 2023.
According to her, the budget proposal was N379 per dollar exchange rate; oil benchmark of $40 barrel per day; and oil production volume of 1.86 million per day.
Buhari had written the National Assembly on Tuesday to notify his intention to present the 2021 budget before the joint Assembly next week.
Senate President, Ahmad Lawan, had said during plenary on Tuesday said the president would present his budget next week for quick passage of the appropriation bill into law.
The Senate President while commending the Joint Committee on Finance and National Planning for carrying out comprehensive legislative work on the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategy Paper, stated that consideration of its report by the upper chamber would precede presentation of the 2021 budget estimates next week by the President.
“The Joint committee will present it’s report to the Senate today for consideration. This is a precursor to the presentation of the 2021 Budget Estimates by the Executive Arm of Government soon. I am aware that the Executive will be presenting the 2021 Budget Estimates by next week,” Lawan said.
THE NEWS18 hours ago
BREAKING: Lagos govt reviews curfew period, schools remain shut
THE NATION3 days ago
BREAKING: Sanwo-Olu relaxes curfew in Lagos
THE NEWS17 hours ago
BREAKING: Finally, Buhari speaks on Lekki shootings, says killed protesters will get justice
THE NEWS2 days ago
#EndSARS: Tinubu visits Sanwo-Olu, says he didn’t go anywhere
ENTERTAINMENT1 day ago
Anka Cash Spa boss throws surprise birthday party for Victoria Ogini
THE NEWS2 days ago
#EndSARS: Investigation reveals Brig-Gen Francis Omata has no hands in Lekki shootings
BUSINESS15 hours ago
The making of a CSR masterstroke: An x-ray of First Bank’s Yeoman effort to move one million children to e-Learning