The Federal Government has proposed N8.73trillion for the 2019 fiscal calendar.
The proposed appropriation bill for the coming fiscal year is N400billion lower than that of this year.
Minister of Budget and National Planning, Senator Udoma Udo Udoma stated this on Wednesday at the end of the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari at the State House Villa, Abuja.
Udoma said the council has pegged the price of crude oil per barrel at $60, exchange rate at N305/dollar and daily crude oil production at 2.3million barrel per day.
According to him, the Medium Term Expenditure Framework (MTEF) for 2019 to 2021 has been approved by the council it would soon be submitted to the National Assembly for further consideration.
More to follow…