Tinubu Leads Federal Executive Council (FEC) Meeting At Aso Rock

Tinubu Leads Federal Executive Council (FEC) Meeting At Aso RockPresident Bola Tinubu is currently presiding over the Federal Executive Council (FEC) meeting at the Council Chamber of the Presidential Villa in Abuja. According to reports, this is expected to be the final FEC meeting of the year.

Sources indicate that the main agenda for the meeting will focus on the upcoming presentation of the 2025 Appropriation Bill to the National Assembly, which is scheduled for tomorrow. During the previous FEC meeting, held about a month ago, the Council approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework (MTEF).

The framework proposes a ₦47.9 trillion budget for 2025, which includes a ₦9.22 trillion borrowing plan to cover the deficit. Key assumptions underpinning the budget 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.

Notably, Vice President Senator Kashim Shettima is absent from today’s meeting as he is in Saudi Arabia for the lesser hajj. However, he is expected to meet with the President of the Islamic Development Bank during his visit.

Present at the meeting are key government officials, including the Secretary to the Government of the Federation (SGF), Senator George Akume; Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila; National Security Adviser (NSA), Mallam Nuhu Ribadu; and the Head of the Civil Service of the Federation, Dr. Didi Easter Wilson-Jack.

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