Toba Owojaiye reporting
Barring any last minute changes, President Bola Ahmed Tinubu’s 2024 budget of N27.5 trillion has received the nod from the Federal Executive Council (FEC).
The approval, granted on Monday, signaled a crucial step in the budgetary process. The FEC, comprising ministers, the governor of the Central Bank of Nigeria (CBN), the national security adviser, and other key government officials, including permanent secretaries, wields significant influence in federal policy formulation.
Truth Live News reports that this budget surpasses President Muhammadu Buhari’s previous budgets, with the 2023 Appropriation Bill signed at N21.83 trillion and a N17.3 trillion budget in 2022. The approval reflects the government’s commitment to a substantial financial plan for the upcoming year.
As the nation awaits the official presentation of the budget, the FEC’s endorsement sets the stage for potential economic impacts and scrutiny.
More details later…