The Federal Executive Council, on Monday, approved the 2024 appropriation bill of N27.5 trillion to be presented by President Bola Ahmed Tinubu.
The approval came during Monday’s council meeting presided over by President Bola Tinubu at the presidential villa in Abuja.
The Minister of Budget and Economic Planning, Alhaji Atiku Bagudu, disclosed this to correspondents at the end of the meeting, saying that the government is targeting N18 trillion for the year.
He said, “The federal executive council considered the 2024 Appropriation Bill.
The National Assembly earlier approved the MTEF. 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.”
The Council is the highest policy-forming body for the federal government and comprises ministers, the governor of the Central Bank of Nigeria (CBN), the national security adviser, and some top government officials, including permanent secretaries.
