President Bola Tinubu will present the 2024 budget to the National Assembly on Wednesday, the Secretary of Research and Information at the National Assembly, Dr Ali Barde Umoru, confirmed on Monday.
The Federal Executive Council (FEC) approved the 2024 appropriation bill of N27.5 trillion today.
This publication gathered that the Speaker of the House of Representatives, Tajudeen Abbas, is expected to formally announce the budget presentation later today.
Meanwhile, the Minister of Budget and National Planning, Atiku Bagudu, has said the President will disclose additional budget specifics during his presentation of the budget to the National Assembly.
According to Bagudu, the revised Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) parameters have raised the revenue target for the upcoming fiscal year to N18 trillion.
He said, “The federal executive council considered the 2024 Appropriation bill. The MTEF was earlier approved by the National Assembly. It has an exchange rate of N700 to a dollar and a crude oil benchmark of $73.
“To improve revenue, the council further reviewed the MTEF, with an exchange rate of N750 to a dollar, and a crude oil benchmark of $77. This will significantly improve revenue.”
