The extraordinary Federal Executive Council, FEC, meeting earlier scheduled to hold today (Saturday) has been shifted to Monday, October 7, 2019, by 12 noon. Femi Adesina, Special Adviser to President Muhammadu Buhari on Media and Publicity, said, in a statement that the meeting is to put finishing touches to the year 2020 budget, which would still be presented to the National Assembly by 2 p.m on Tuesday.
Chairman, Senate Committee on Media and Publicity, Senator Adedayo Adeyeye, said, at a news conference shortly after last Thursday’s plenary, that it will be the first time the executive would be presenting the budget in October.
Adeyeye said the National Assembly was committed to passing the budget before the end of December. The Senate had approved the 2020 to 2022 MTEF and FSP documents, increasing the Federal Government’s total expenditure from N10.002trn to N10.729.4trn, and showing a hike of N729bn. The Senate, which approved the retaining of N305 to one dollar to ensure economic stability, also endorsed 57 dollars per barrel as crude oil benchmark price for the fiscal year 2020 and 2.18mbpd as daily crude oil production output.