The Federal Executive Council, FEC, on Monday proposed over twenty six trillion naira for the 2024 fiscal year for submission to the National Assembly.
The Minister of Budget and Planning Atiku Bagudu who spoke after the Council meeting presided over by President Bola Tinubu, said FEC pegged the price of crude oil at $73.96, exchange rate of $700, and oil production of 1.78 million barrels per day.
During the briefing at the Council Chamber, Presidential Villa, Abuja, Bagudu said the government is working to ensure a January-December budget circle.
Bagudu who said the executive will put efforts in place to ensure the 2024 budget is passed and signed before December 2024, also noted that FEC approved the 2024-2026 Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Papers, FSP.
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