The Federal Executive Meeting presided over by President Muhammadu Buhari, VP, SGF, COS, NSA and a few Ministers present in person at the State House Council Chambers, while the rest of the Cabinet participate remotely. #AsoVillaTodayThe Federal Executive Council , on Wednesday, approved the 2021-2023 Medium Term Expenditure Framework and Fiscal Strategy Paper with N12.66 trillion budget projection for each of the three fiscal years.
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. “So in terms of the revenue projection, for 2020 it was N5.84 trillion but for 2021 we expect that it will be N7.50 trillion.
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