The Herald reports that the Tinubu-led Federal Government (FG) have adopted for the federal council meeting (FEC) to be held every Mondays.
This online news platform understands that the weekly FEC meeting which is presided over by Mr. President and cabinet members, top government aides is always held every wednesday.
Mohammed Idris, Minister of Information, who disclosed the new policy, said the meetings may not be held weekly unless there are pressing issues to discuss.
Meanwhile, The Herald understands that the Federal Government announced it is projecting N26.01tn as expenses for the 2024 fiscal year, an increase of 19.15 per cent from the N21.83tn approved in 2023.
This is as it approved the Medium-Term Expenditure Framework for 2024 – 2026.
The FG affirmed that the administration would maintain the January – December budget implementation cycle as President Bola Tinubu would soon present the 2024 appropriation bill to the National Assembly to ensure its ratification before December 31, 2023.
“The aggregate expenditure is estimated at N26.01tn for the 2024 budget, which includes statutory transfers of N1.3tn non-debt recurrent expenditure of N10.26tn. Debt service estimated at N8.25tn as well as N7.78tn being provided for personnel pension cost,” the Minister of Budget and National Planning, Abubakar Bagudu, told State House Correspondents after the Federal Executive Council meeting at the Presidential Villa, Abuja.
Bagudu clarified the increased debt service, saying it was “because N22.7tn Ways and Means was securitised, meaning it became a Federal Government debt at nine per cent.”
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