The Nation Newspaper FG projects N26trn expenditure for 2024 budget
has approved a N26 trillion expenditure projection for the 2024 Budget, the bill of which is expected to be presented to and passed by the National Assembly before the end of December.
He also affirmed the administration would maintain the January to December budget implementation cycle, even as he hinted that the administration would be raising a supplementary budget. “The Medium Term Expenditure Framework is a requirement of the Fiscal Responsibility Act, it’s always a three-year document, so this Fiscal Responsibility Act is for the years 2024 to 2026.
“Now, increasing engagements made by the Governor of the Central Bank of Nigeria, and indeed all other ministers. So we believe that this inflows will help us to clear the backlog and the exchange rate will begin to reflect a stronger value than the current weakness.“Equally, there was a question on the assumptions, I spoke about a number of assumptions, actually I said two; the assumptions include oil price benchmark, which I said for 2024 we are assuming 73.96, oil production of 1.
Asked when he thought President Tinubu might be presenting the projections to the National Assembly, Bagudu said: “Then in terms of presentation of the budget, Mr.
Minister of Industry, Trade and Investment, Dr Doris Uzoka-Anite, who disclosed this during the briefing, also disclosed that the committee will have 10 subcommittees under it.
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