N27.5TN 2024 APPROPRIATIONS BILL APPROVED BY THE FEC.

Babatunji Wusu –

The N27.5 trillion appropriations bill for 2024 has been approved by the Federal Executive Council (FEC). President Bola Tinubu will deliver the measure to a joint session of the National Assembly on Wednesday, November 29, following approval.

This was revealed by Minister of Budget and Economic Planning Abubakar Bagudu on Monday at the conclusion of the FEC’s weekly meeting, which was chaired by the president and held at the Aso Rock Villa in Abuja.

The minister stated that in addition to the 2024 Appropriations Bill, the President would bring the updated Medium Term Economic Framework and Fiscal Policy document to the National Assembly, having been approved by the Council.

“His Excellency, Mr. President, presented the 2024 Appropriations Bill to the National Assembly with approval from the Federal Executive Council.

The bill’s total spending, calculated using the old reference prices, is N27.5tn, more than N1.5tn more than the prior estimate.