Exchange rate has been pegged at N1,400 per dollar, with the government aiming for a gross domestic product (GDP) growth rate of 6.4 percent
The Federal Executive Council (FEC) approved a budget of N47.9 trillion for the 2025 fiscal year during a meeting on Thursday.
This announcement was made by the Minister of Budget and Economic Planning, Atiku Bagudu, following the meeting presided over by President Bola Tinubu.
Mr. Bagudu shared with journalists that the council also approved the 2025-2027 Medium Term Expenditure Framework (MTEF).
He mentioned that the government has set a crude oil benchmark of $75 per barrel and an oil production target of 2.06 million barrels per day (bpd).
Additionally, the exchange rate has been pegged at N1,400 per dollar, with the government aiming for a gross domestic product (GDP) growth rate of 6.4 percent. More
 growth rate of 6.4 percent){kind=link}