Breaking: FEC approves 13.08tr for 2021 Budget estimate

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 The Federal Executive Council (FEC) have on Wednesday signed N13.09 trillion budget summited by President Muhammadu Buhari which was estimated for 2021 fiscal year. 

Briefing Newsmen at the State House after the meeting, the Minister of Finance, Budget and National Planning, Zainab Ahmed, stated that the budget estimation is up of N2.083 trillion capital expenditure, which she described as N29 per cent of the total budget.

According to Zainab, the budget proposal is dependent on the $379 exchange rate, oil benchmark of $40 barrel per day, the oil production volume of 1.86 million per day, including 400,000 condensates, Gross Domestic Product (GDP) growth of three per cent and 11.95 per cent inflation rate.
The minister, says the project would operate on N4.48 trillion deficit, put the revenue target in the fiscal year at N7.9 trillion.

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