By Kazeem Ugbodaga
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.