A presidency source has disclosed that this week’s Federal Executive Council (FEC) is unlikely to hold.
The source who pleaded for anonymity said the number of cases of those infected by the coronavirus and the death of former managing director of the Petroleum Products Marketing Company (PPMC), Suleiman Achumugu, who died on Monday.
At last week’s meeting presided over by President Muhammadu Buhari, the council had approved N1.5 trillion reduction in the 2020 budget to fit into the present realities.
Recalled that Buhari had signed the approved budget N10.59 trillion budget on December 17, 2019.
Minister of Finance Mrs. Zainab Ahmed had said the government was working on a worse case scenario of oil benchmark of $30 per barrel at 2.18 million barrels per day. (The Sun)
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