The Federal Executive Council (FEC), yesterday, approved a proposed Budget of ?47.9 trillion for 2025 fiscal year.
Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this while briefing State House journalists after the FEC meeting presided over by President Bola Tinubu, yesterday.
This was part of the Medium-Term Expenditure Framework (MTEF) for 2025 to 2027 and in line with the Fiscal Responsibility Act of 2007. The FEC granted approved its submission to the National Assembly as required by the Act.
The framework projected Gross Domestic Product (GDP) growth rate at 4.6 percent, exchange rate of $75 to the Naira, oil production of 2.06 million barrels per day.
