The Federal Executive Council has approved the 2024- 2026 Medium Term Expenditure Framework and Fiscal Strategy Papers (MTEF/FSP)
Setting new parameters ahead of its presentation to the National Assembly with an N26.01 trillion budget projection for the 2024 fiscal year
The approval was given at the second meeting of the council presided over by the President, Bola Tinubu
The Minister of Budget and Economic Planning, Atiku Bagudu briefed State House correspondents at the end of the meeting.
Bagudu listed other projections in the budget to include a $73.96 per barrel oil benchmark, an oil production volume of 1.78million barrels per day, an inflation rate of 21% projected gross domestic growth rate of 3.76%
The 2024 to 2026 MTEF was approved with the assumption that investment will continue to flow with stronger naira.
