FG proposes N8.73tr for 2019 budget

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The Federal Government has proposed N8.73tr for next year’s fiscal calendar, N400bn lower than that of this year.

Minister of Budget and National Planning, Senator Udoma Udo Udoma stated this today at the end of the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the State House Villa, Abuja.

He said the council has pegged the price of crude oil per barrel at $60, exchange rate at $305 and daily crude oil production at 2.3m barrel per day.

Udoma said Medium Term Expenditure Framework (MTEF) for 2019 to 2021 has been approved by the council and that it would soon be submitted to National Assembly for further consideration.

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