The Federal Executive Council (FEC) has approved a proposed budget of N47.9 trillion for 2025, as disclosed by Atiku Bagudu, Minister of Budget and Economic Planning on Thursday.
This budget is part of the Medium Term Expenditures Framework (MTEF) for 2025 to 2027, which aligns with the Fiscal Responsibility Act of 2007.
The FEC also approved the submission of this proposal to the National Assembly, as required by law.
The proposed budget projects a Gross Domestic Product (GDP) growth rate of 4.6 percent and oil production of 2.06 million barrels per day.
The budget minister said the exchange rate was pegged at N1,400 per dollar.
More to follow…
The Senate on Thursday approved President Bola Tinubu’s loan request of $2.2 billion to partially…
A former presidential spokesman, Doyin Okupe has dismissed claims by Peter Obi of the Labour…
Leading Igbo Socio-cultural Organisation, Ohanaeze Ndigbo, has commended the arrest of self-acclaimed Biafra Prime Minister,…
A car dealer has gifted Nigerian singer Davido a new vehicle for his birthday. …
There is palpable tension in the Peoples Democratic Party (PDP) after the acting National Chairman…
The Arewa Consultative Forum says the policies of the President Bola Tinubu-led administration has worsened…
