President Bola Tinubu will present the 2024 budget of N27.5 trillion to the National Assembly on November 29.
The budget was approved by the Federal Executive Council on November 27, after revising the Medium-Term Expenditure Framework and the Fiscal Policy.
The new MTEF and FP used an exchange rate of N750 to $1 and a crude oil price of $77.96 per barrel, which increased the forecast revenue to N18.2 trillion and reduced the deficit.
The 2024 budget is higher than the 2023 budget, including the two supplementary budgets. The Minister of Budget and Economic Planning, Abubakar Bagudu, gave the details of the budget after the FEC meeting at the Presidential Villa.
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