President Tinubu Presides Over FEC Meeting

 President Bola Tinubu is presiding over the Federal Executive Council (FEC) meeting at the Council Chamber of the State House in Abuja.

President Bola Tinubu

 FEC, at its last meeting held over a month ago, had approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework (MTEF), which includes a N47.9 trillion budget estimate for 2025.

The plan features N9.22 trillion in new borrowing to finance the deficit, with an oil price benchmark of $75 per barrel, daily production of 2.06 million barrels, and an exchange rate of N1,400 to the dollar.

The council meeting, the last one for 2024, precedes President Tinubu’s presentation of the 2025 Appropriation Bill to the National Assembly on Tuesday.

Vice-President Kashim Shettima, currently in Saudi Arabia for the lesser hajj, is absent at today’s meeting.

Those attending the meeting include the Chief of Staff to the President, Hon. Femi Gbajabiamila; National Security Adviser, Mallam Nuhu Ribadu; Secretary to the Government of the Federation, Senator George Akume; FCT Minister, Nyesom Wike; Finance Minister and Coordinating Minister of the Economy, Wale Edun; Budget and National Planning Minister, Abubakar Bagudu and Information and National Orientation Minister, Mohammed Idris.