FEC approves N8.6trillion 2019 budget estimat
By Abdulrahman Abdulraheem
The Federal Executive Council has approved the proposals for the 2019 Appropriation Bill.
The Minister of Budget and National Planning, Udoma Udo-Udoma, disclosed this to State House Correspondents after a special session of the council chaired by President Muhammadu Buhari.
Udo-Udoma stated that the next stage was to liaise with the National Assembly to pick a date for the presentation of the estimates by Buhari.
The Federal Government is proposing N8.6trillion as the budget for next year which is N400bn lower than that of 2018.
Though the meeting was scheduled to take one hour, it lasted for about two hours thirty minutes as it started by 10:30am and ended around 1.pm.
He declined to disclose the details, saying that the Nigerian constitution only allows the president to give out the details and that the President would do so when the National Assembly is ready to receive the draft.
The FEC had on 24th October approved the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) for the 2019 -2021 to provide template for the 2019 budget.