The Federal Executive Council meeting presided over by President Bola Tinubu on Monday, approved a budgetary benchmark of N26 trillion for the 2024 fiscal year. The ministries and parastatals saddled with the responsibilities of perfecting the budget estimates are expected to present the document to the National Assembly before December 31, 2023.
Atiku Bagudu, Minister of Budget and National Planning, gave a cursory view of what transpired at the FEC meeting, which is the second in the series since Tinubu became President. Giving further insights, the minister said the council approved the 2024-2026 medium-term expenditure framework and fiscal strategy papers .
96 as well as an exchange rate of N700/$ He said: “Now, it was presented on the background of the commendable measures that have been taken since June in order to restore macroeconomic stability, particularly the deregulation of petroleum prices, for which we maintained that subsidies are gone and indeed the regulation of the foreign exchange market.
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