May 18, 2024
FEC Approves N27.5trn For 2024 Budget
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FEC Approves N27.5trn For 2024 Budget

The Federal Executive Council (FEC) has approved the 2024 Appropriation Bill with an expenditure of N27.5 trillion. 

The announcement was made yesterday by the Minister of Budget and Economic Planning, Alhaji Atiku Bagudu, after the Federal Cabinet meeting presided over by President Bola Tinubu at the Council Chambers of the Presidential Villa, Abuja.

The minister, who said further details of the budget will be released when President Tinubu makes his presentation of the budget to the National Assembly, also said the targeted revenue for next year is N18 trillion.

READ ALSO: Mele Kyari Re-appointed As NNPC Limited CEO By President Tinubu

Minister Bagudu also said FEC also approved the revised 2024 – 2026 Medium-Term Expenditure Framework(MTEF)/ Fiscal Strategy Paper (FSP) which would be submitted along with the 2024 budget.

President Tinubu is expected to submit the budget to a joint sitting of the National Assembly tomorrow.

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