Aso Rock In Focus: Tinubu Steers Final FEC Meeting Of 2024

Aso Rock In Focus: Tinubu Steers Final FEC Meeting Of 2024

President Bola Tinubu is currently presiding over the final Federal Executive Council (FEC) meeting of the year, taking place at the Council….Aso Rock In Focus: Tinubu Steers Final FEC Meeting Of 2024

Chamber of the Presidential Villa in Abuja.

This key meeting is expected to focus on the presentation of the 2025 Appropriation Bill to the National Assembly, scheduled for tomorrow. Sources close to the meeting have indicated that significant discussions will revolve around this critical financial document.

The previous FEC session, held about a month ago, saw the approval of Nigeria’s 2025-2027 Medium-Term Expenditure Framework (MTEF), which proposed a ₦47.9 trillion budget for 2025, with a ₦9.22 trillion borrowing plan to address the deficit. Key assumptions include an oil price benchmark of $75 per barrel, a daily oil production target of 2.06 million barrels, and an exchange rate of ₦1,400 to the dollar.

Absent from today’s meeting is Vice President Kashim Shettima, who is in Saudi Arabia for the lesser hajj, where he is also scheduled to meet with the President of the Islamic Development Bank. However, key government figures, including Secretary to the Government of the Federation Senator George Akume, Chief of Staff to the President Femi Gbajabiamila, National Security Adviser Mallam Nuhu Ribadu, and Head of Civil Service Dr. Didi Easter Wilson-Jack, are all present for the session.

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