The Federal Government has approved N13.08 Trillion as Budget Proposal For 2021.
The approval was made on Wednesday in Abuja during the Federal Executive Council meeting led by President Muhammadu Buhari.
Minister Of Finance, Budget, And National Planning, Hajiya Zainab Ahmed, who disclosed this while briefing State House journalists, said said the proposal is aimed to enable more inclusive growth and create more jobs.
She said the Capital Expenditure for the 2021 is projected at N2.083 Trillion, while the Oil benchmark is placed at $40 Per Barrel.
Other indices projected for the 2021 Budget Include, Oil Production at 1.86 Million Barrels Per day, Including 400,000 Barrels Of Condensate; Gross Domestic Product (GDP) Growth target at 3%; Inflation target at 11.95%; and Foreign Exchange Set at N379 to a Dollar.
She also said the total Aggregate Expenditure Of 29% Capex With A Deficit Of N4.48 Trillion.