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FEC approves N6 tn for 2016 budget

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President Muhammadu Buhari on Monday approved N6 trillion expenditures for 2016 Budget under the Medium Term Expenditure Framework (MTEF).

He made the presentation at the Federal Executive Council (FEC).

Read also: Review… Is anyone worried about that supplementary budget?

Speaking with State House correspondents at the end of the meeting, the Minister of Budget and National Planning, Senator Udo Udoma accompanied by his deputy, Zainab Ahmed and his counterpart at the Ministry of Information and Culture, Lai Mohammed, said the price of $38 per barrel of crude oil and 2.2 million barrel production of crude oil per day was projected in the framework.

The approved MTEF, he said, will be forwarded to the National Assembly.

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