FEC is over. Press Briefing coming up soon.
It’s Budget Season. #Budget2021
Memo presented today by @FinMinNigeria seeking FEC approval for the 2021 budget proposal
Minister of Finance, @ZShamsuna:
Performance of 2020 Budget for six months (Jan to July 2020):
Revenue: 68%
Expenditure (salaries, pensions, debt service, statutory transfers): 92.3%
#FECBrief
Budget Proposal for 2021, approved today at FEC
Oil benchmark: $40
Oil Production: 1.86m bpd (incl 400k of condensate)
FX: N379/$
GDP growth target: 3%
11.95% inflation target
N13.08 trillion total aggregate expenditure (29% Capex), with a deficit of N4.48 trillion
In 2021 Budget, FX benchmark moving from N360 to N379, says Minister of @FinMinNigeria, announcing details of Nigeria’s 2021 Budget, which has just been approved by Cabinet and will be presented to NASS in October.
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