FEC Okays N27.5tn 2024 Appropriation Bill

The Federal Executive Council, on Monday, approved the 2024 appropriation bill of N27.5 trillion to be presented by President Bola Ahmed Tinubu.

The Council is the highest policy-forming body for the federal government and comprises ministers, the governor of the Central Bank of Nigeria (CBN), the national security adviser, and some top government officials, including permanent secretaries.

Minister of Budget and National Planning, Atiku Bagudu, disclosed this to State House correspondents on Monday after the weekly Federal Executive Council (FEC) meeting presided over by President Bola Tinubu at the Presidential Villa, Abuja.

According to him, further details of the budget will be released when the President presents the budget to the National Assembly.

He said the Medium Term Expenditure Framework (MTEF), which had been passed by the National Assembly, was further reviewed.

Consequently, Bagudu said the targeted revenue for the next fiscal year now stands at N18trillion given new parameters of the MTEF.

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