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The Federal Executive Council (FEC) has approved N13.09 trillion budget estimate for 2021 fiscal year.
The approval was made during the FEC meeting presided over by President Muhammadu Buhari, in Abuja, on Wednesday.
Zainab Ahmed, the minister of finance, budget and national planning, told newsmen after the meeting that the budget is based on an exchange rate benchmark of N379/$ and crude oil production of 1.86 million barrels per day (including 400,000 barrels of condensate) at $40 per barrel.
More details soon.
