Afrigather The Federal Govt Council (FEC) on Monday permitted the 2024 price range estimated at N27.5trillion, on the crude oil benchmark of $77.96 per barrel and N750 to the greenback change price.
The brand new price range is N1.5trn greater, than the preliminary N26trillion earlier permitted by the Council earlier than the passage of the Medium Time period Framework and Fiscal Coverage doc, by the Nationwide Meeting.
Atiku Bagudu, the minister of price range and financial planning disclosed this whereas State Home Journalists, after the Federal Govt Council FEC assembly presided over by President Bola Tinubu, on the Presidential Villa, Abuja, on Monday.
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He disclosed that the Council additionally permitted a revised Medium Time period Financial Framework and Fiscal Coverage doc which shall be represented to the Nationwide Meeting alongside the 2024 Appropriation Invoice, describing the price range as “a course of till it’s signed into regulation”
Wale Edu, Minister of Finance and Coordinating Minister of the Economic system, revealed that FEC additionally permitted a concessionary price range assist mortgage of $1b from the African Improvement Financial institution ( AFDB)
Edu additionally disclosed that the Presidential Fiscal Coverage and Tax Reforms committee headed by Taiwo Oyedele, briefed the Council on its current report offered to the President.
Learn additionally: Tinubu’s 2024 budget presentation set for third week of November
He revealed that the committee has affected the economic system, serving to to spice up fiscal place of the federal government and aiding to extend tax income to GDP, to 18% in Nigeria, from the present 7.5%
Particulars later.
