President in FEC meeting with cabinet over 2018 budget

The 2018 Appropriation Bill is the main agenda as President Muhammadu Buhari meets with his cabinet in todays rescheduled Federal Executive Council (FEC) meeting.

The meeting which traditionally held every Wednesday of the week was postponed yesterday due to final arrangements being made to the 2018 budget.

At the meeting, the Minister of Budget and National Planning, Udoma Udo Udoma is expected to present the estimates of the budget, as proposed by ministries, departments and agencies (MDAs) of the government and compiled by the budget ministry, for approval, to enable President Buhari present it to the National Assembly on Tuesday, October 31, 2017.

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The Federal Government has severally promised to present the bill to the National Assembly in October to restore the budget calendar to January through to December.

The 2017 bill was not passed into law until June this year, when Acting President, Yemi Osinbajo signed the N7.44 trillion Budget of Economic Recovery and Growth.

ALSO READ: FG to present N7.9 trillion 2018 Budget to NASS in October

In July, Udoma revealed that the 2018 appropriation bill will be around N7.9 trillion but there have been other reports stating that the proposed amount is N8.6 trillion, a 15 percent increase from the 2017 budget.