BREAKING: Tinubu presides over final FEC meeting of 2024

President Bola Ahmed Tinubu is currently presiding over a Federal Executive Council (FEC) meeting at the Council Chamber of the Presidential Villa in Abuja.

Reliable sources indicate that today’s meeting may be the final session for the year, with discussions expected to include preparations for the presentation of the 2025 Appropriation Bill to the National Assembly, scheduled for tomorrow.

The last FEC meeting, held about a month ago, approved Nigeria’s 2025-2027 Medium-Term Expenditure Framework (MTEF), which outlines a ₦47.9 trillion budget for 2025. The framework includes ₦9.22 trillion in new borrowing to cover the budget deficit, an oil price benchmark of $75 per barrel, daily production of 2.06 million barrels, and an exchange rate of ₦1,400 to the dollar.

Vice President Kashim Shettima, currently in Saudi Arabia for the lesser hajj, is absent from the meeting. He is expected to meet with the President of the Islamic Development Bank during his visit.

In attendance are virtually all ministers, alongside key officials, including the Secretary to the Government of the Federation, Senator George Akume; the Chief of Staff to the President, Rt. Hon. Femi Gbajabiamila; the National Security Adviser, Mallam Nuhu Ribadu; and the Head of Civil Service of the Federation, Didi Easter Wilson-Jack.