FG Approves N12.6trn Budget For 2021-2023 MTEF, Projects
The Federal Executive Council (FEC), on Wednesday, approved the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) with N12.66 trillion budget projection for each of the three fiscal years.
Briefing State House correspondents at the end of the FEC meeting presided by President Muhammadu Buhari which lasted well over eight hours, the Minister of State for Finance, Budget and National Planning, Clement Agba, listed other projections in the budget.
These included $40 per barrel oil benchmark, oil production volume of 1.6 million barrel per day, inflation rate of 11.9 per cent, projected gross domestic growth rate of 3 per cent and revenue target of N7.50 trillion.
Mr Agba on projected revenue for 2021 said “I spoke of the various assumptions that have been made in terms of parameters and those assumptions are what drives revenues that we get and in terms of how you are able to reflate the economy and spend helps your GDP”.
here are some of the Pictures from the presidency’s Twitter handle below
Virtual Federal Executive Council (FEC) Meeting. President @MBuhari presiding. pic.twitter.com/CxdzrStxRF
— Presidency Nigeria (@NGRPresident) July 15, 2020
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