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2018 Budget FEC meeting postponed till Thursday to prepare bill

The postponement is due to final arrangements being made to the 2018 Appropriation Bill.

  • Published: , Refreshed:
President Muhammadu Buhari play

President Muhammadu Buhari

(Facebook/Lauretta Onochie)

The presidency has announced the postponement of Wednesday's Federal Executive Council (FEC) meeting till Thursday, October 26, 2017.

According to the presidency's official Twitter account, (@NGRPresident), the postponement is due to final arrangements being made to the 2018 Appropriation Bill.

The account posted, "Federal Executive Council (FEC) Meeting will hold tomorrow, Thursday Oct 26. Agenda is Budget2018, which is currently being finalized."

 

The Federal Government has severally promised to present the bill to the National Assembly in October 2017 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, the Minister of Budget and National Planning, Udoma Udo Udoma revealed that the 2018 appropriation bill will be around N7.9 trillion.

However, there have been other reports stating that the proposed amount is N8.6 trillion, a 15 percent increase from the 2017 budget.

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