Budget: FEC Okays N727b Increment For 2020 - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Publisher (F.BA)
October 8, 2019
TheNational Assembly has approved the addition of 727 billion naira to the 10.2trillion naira Medium Term Expenditure Framework MTEF earlier approved at anextra-ordinary Federal Executive Council FEC meeting.
Aftera five-hour meeting, chaired by President Muhammadu Buhari, the Councilaccepted the 10.729 trillion naira returned to the executive from thelegislature.
Itwas learnt that the Council, at Monday’s meeting, approved the 2020Appropriation Bill which would be presented by the President to the jointsession of the National Assembly today.
Asource, who spoke on a condition of anonymity, said the FEC commended theNational Assembly for the increment of the crude oil benchmark from 55 dollarsto 57 dollars per barrel.
Itwas learnt that officials of the Federal Ministry of Finance, Budget andNational Planning, led by the Director-General of the Budget Office, BenAkabueze, made submissions on the budget.
Theearly submission is geared towards returning the budget from the May-June cycleto January-December cycle.