In his place, Vice President Yemi Osinbajo is presiding over the weekly meeting.
The FEC meeting commenced at about 11am after Osinbajo called for the national anthem.
It remains unknown if Buhari will, at some point, join the meeting which is already in progress.
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The President launched the economic and recovery growth plan (ERGP) during last week’s FEC meeting.
Osinbajo takes charge of the meeting for the first time since the President returned from his 49-day medical vacation in London, United Kingdom.
The VP had presided over all the FEC meetings in Buhari’s absence