Date Fixed For President Tinubu to Present 2024 Budget of N27.5 Trillion

Date: 28-11-2023 7:26 am (3 months ago) | Author: kacy lee
- at 28-11-2023 07:26 AM (3 months ago)
Online (f)

President Bola Tinubu will on Wednesday, November 29, present the 2024 budget to the National Assembly.

The Federal Executive Council earlier today November 27 approved the 2024 budget of N27.5 trillion.

This followed the review of the Medium-Term Expenditure Framework earlier passed by the National Assembly which benchmarked the exchange rate at N700 to $1 and crude oil price at $73.96 cent per barrel.

Briefing State House Correspondents shortly after the Federal Executive Council meeting at the Presidential Villa, the Minister of Budget and Economic Planning, Abubakar Bagudu, said it revised the MTEF and the Fiscal Policy to use an exchange rate of N750 to $1 and also a benchmark crude oil reference price of $77.96 per barrel.

According to Bagudu, the FEC also approved an Appropriation Bill for 2024 with an aggregate expenditure of N27.5 trillion, an increase of over N1.5 trillion from the previously estimated.

He also noted that using the old reference prices, the forecast revenue is now N18.2 trillion which is higher than the 2023 revenue, including that provided in the two supplementary budgets, in which the deficit is lower than that of 2023.


Posted: at 28-11-2023 07:26 AM (3 months ago) | Addicted Hero
- OmoNobaUku at 28-11-2023 10:51 AM (3 months ago)
(m)
N27 Trillion is a tiny budget for a country the size of NGR. This should, in an ideal world equate to the budget of just Lagos State alone. NGR's budget need to grow to at least N800 Trillion in order to have real and meaningful impact. The challenge for our Govt is how to grow our GDP to that level quickly.
Posted: at 28-11-2023 10:51 AM (3 months ago) | Gistmaniac
Reply
- Benti247 at 28-11-2023 04:57 PM (3 months ago)
(m)
This is what exactly what the scavengers he has just  sworn in are  waiting for. Thieves
Posted: at 28-11-2023 04:57 PM (3 months ago) | Gistmaniac
Reply

fire TRENDING GISTS fire

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