Nigerians React As Federal Government Projects N26 Trillion For 2024 Budget

Nigerians React As Federal Government Projects N26 Trillion For 2024 Budget....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie Omo-Ikirodah

The Federal Government has announced its projection of N26 trillion for the 2024 appropriation budget. This revelation was made public by the Minister of Planning and Budget, Atiku Bagudu, during a press briefing after the Federal Executive Council (FEC) meeting. The meeting, held at the Presidential Villa in Abuja, was presided over by President Bola Tinubu on Monday, October 16. CONTINUE READING

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Bagudu, who was joined by other ministers including Mohammed Idris of Information, Wale Edun of Finance and Economy, Dave Umahi of Works and Housing, Doris Uzoka-Anite of Industry, Trade, and Investment, and Simon Lalong of Labour and Employment, highlighted that the FEC had given its nod to the 2024–2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Papers (FSP).

He emphasized that as mandated by the Fiscal Responsibility Act, the executive must present the National Assembly with a document outlining the medium-term economic outlook before the budget presentation. The proposed budget’s assumptions are based on a crude oil price of $73.96 per barrel and an exchange rate of N700 to $1. CONTINUE READING

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Bagudu stressed the significant measures taken since June to restore macroeconomic stability, highlighting the deregulation of petroleum prices and the regulation of the foreign exchange market. The council acknowledged the MTEF and agreed on the next steps of consultation and presentation to the National Assembly.

Source: Bushradiogist