The Federal Executive Council on Wednesday approved the 2021-2023
Medium Term Expenditure Framework and Fiscal Strategy Paper with
twelve point six-six trillion naira budget projection for each of the
three fiscal years.
The approval was given at a virtual meeting of the council presided
over by President, Muhammadu Buhari.
The Minister of State for Finance, Budget and National Planning, Mr.
Clement Agba, briefed the journalist at the end of the meeting.
He listed other projections in the budget to include forty dollars per
barrel oil benchmark, oil production volume of one point six million
barrel per day, inflation rate of eleven point nine per cent,
projected gross domestic growth rate of three percent and revenue
target of seven point five zero trillion naira.
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