The 2024 Appropriations Bill’s total expenditure of N27.5 trillion has been approved by the Federal Executive Council (FEC).
The consent was given during the council meeting on Monday at the presidential residence in Abuja, which was chaired by President Bola Tinubu.
At the conclusion of the meeting, Alhaji Atiku Bagudu, the Minister of Budget and Economic Planning, revealed this to reporters, stating that the government is aiming for N18 trillion this year.
The Federal Executive Council deliberated the 2024 Appropriations Bill, he declared.
The MTEF was already adopted by the National Assembly. Its benchmark price for crude oil is $73, and its exchange rate is N700 to the dollar.
“The council further evaluated the MTEF, using a benchmark price of $77 for crude oil and an exchange rate of N750 to the dollar, in an effort to increase revenue. Revenue will rise dramatically as a result.
