N13trn 2021 budget proposal gets FEC approval



Nigeria’s Federal Executive Council (FEC) has okayed a budget estimate of N13.08 trillion for the 2021 fiscal year.

The council, in a meeting presided over by President Muhammadu Buhari, on Wednesday, pegged the budget proposal at an oil benchmark of $40 a barrel and at a production volume of 1.86 million barrels per day.

The Gazette also understands that the estimate is premised on a N379/dollar exchange rate.

More details shortly…