FEC approves 2019 budget proposals at extraordinary session

The Federal Executive Council(FEC) presided over by President Muhammadu Buhari, on Friday in Abuja has approved the  2019 Executive Budget Proposals.

Minister of Budget and National Planning, Sen. Udoma Udo Udoma, who briefed State House correspondents after the extraordinary FEC, said the proposals would be sent to the National Assembly.

The minister, however, did not give the budget figures, saying it was the president’s prerogative.

“They will be presented to the National Assembly; we will have to consult them in terms of the date of that presentation.

“The budget is the president’s budget; it is the president that presents it; I will like to be usurping his authority if I give further details; he presents the budget.

“We are hoping to be in touch with the National Assembly as soon as possible.

“They have to agree to the date they will receive the budget; we are going to be in touch with them immediately; but the budget is ready.

“If I speculate on that, I will be encroaching on the role of the National Assembly,” he said.

The News Agency of Nigeria (NAN) recalls that FEC had on Oct. 4, approved the 2019/2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).

Udoma had said that the MTEF and FSP that was approved was designed to translate the strategic development objectives of the Economic Recovery and Growth Plan (ERGP) into a realistic and implementable budget framework for the medium term.

The minister had said that the MTEF projected a proposed budget of N8.73 trillion for 2019 fiscal year, adding that the figure was about N400 billion less than N9.12 trillion for 2018 budget.

NAN reports that the Minister of Budget and National Planning, Udoma Udoma, had in November announced that the federal government was considering a leaner 2019 budget of N8.6 trillion, which is leaner than the N9.1 trillion approved by lawmakers for 2018.

Addressing a consultative forum on the medium term expenditure framework (MTEF) and fiscal strategy paper (FSP) 2019-2021, the Minister said the decision was due to reduced government revenue projection for the year.

He also said government planned to cut down the level of borrowing from N1.6 trillion in 2018 to N1.5 trillion in 2019, while the deficit component would be reduced from N1.9 trillion in 2018 to N1.6 trillion.


SOURCE :The Nigerian Voice (local news)

27 thoughts on “FEC approves 2019 budget proposals at extraordinary session

  • 11th December 2020 at 12:24 am

    After going over a number of the blog articles on your web page, I seriously like your way of blogging.
    I book-marked it to my bookmark webpage list and will be checking back in the near
    future. Please check out my web site too and let me know how you feel.

  • 11th December 2020 at 10:41 pm

    Very nice article, exactly what I wanted to find.

  • 12th December 2020 at 5:28 pm

    This is really interesting, You are a very skilled blogger.
    I hhave joined youjr feed and look forward to seeking more of your
    great post. Also, I’ve shared your web site in mmy social

    Heree is my homepage: chinese takeaway flod
    gloucester (Korey)

  • 13th December 2020 at 1:51 am

    Hello there, I discovered your site by way of Google even as looking
    for a similar subject, your site got here up, it appears to
    be like great. I have bookmarked it in my google bookmarks.

    Hi there, just turned into alert to your blog via Google, and located that it is truly informative.
    I am gonna be careful for brussels. I will be grateful if you proceed this in future.
    Numerous other folks will be benefited from your writing.

  • 27th December 2020 at 11:56 pm

    Great web site. A lot of helpful info here. I am sending it to a few friends ans also sharing in delicious. And naturally, thank you to your effort! Pristina Hotels

  • 29th December 2020 at 5:13 pm

    To be able to check into ones own give you back, visit the IRS site in addition to thin air better.

  • 30th December 2020 at 11:00 pm

    hello!,I love your writing very a lot! share we keep in touch extra approximately your article on AOL? I need a specialist on this area to resolve my problem. Maybe that is you! Looking ahead to peer you.

  • 31st December 2020 at 6:55 pm

    Often the Are generally Weight reduction plan is unquestionably an low-priced and flexible weight-reduction plan product modeled on individuals seeking out shed some pounds combined with at some point maintain a far healthier your life. la weight loss

  • 1st January 2021 at 7:42 pm

    Nicely picked details, many thanks to the author. It’s incomprehensive in my experience at present, however in common, the convenience and importance is mind-boggling. Regards and all the best ..

  • 2nd January 2021 at 5:41 am

    Another interesting post, Thanks for posting this information, it is unusual to read such high quality blog posts. I will bookmark your website.

  • 4th January 2021 at 8:12 pm

    I loved as much as you will receive carried out right here. The sketch is attractive, your authored material stylish. nonetheless, you command get got an nervousness over that you wish be delivering the following. unwell unquestionably come further formerly again since exactly the same nearly very often inside case you shield this increase.

  • 21st January 2021 at 10:29 pm

    I need to to thank you for this good read!! I absolutely enjoyed
    every little bit of it. I have you bookmarked to check out new
    stuff you post…

    Feell free to suhrf to mmy webpage … gloucester conservztories (Fermin)

  • 2nd April 2021 at 12:18 pm

    Howdy! Someone in my Facebook group shared this website with us so I came to take a look.
    I’m definitely loving the information. I’m book-marking
    annd will be tweeting this to my followers! Superb blog and excellent design and

    my page :: best chinesse takeaway in glouceester (Sebastian)

  • 10th May 2021 at 9:30 am

    Have you ever heard of second life (sl for short). It is basically a online game where you can do anything you want. SL is literally my second life (pun intended lol). If you want to see more you can see these second life authors and blogs

  • 12th June 2021 at 8:08 pm

    Hi! This is my first visit to your blog! We are
    a team of volunteers and starting a new initiative in a community in the same
    niche. Your blog provided us beneficial information to work on. You have done a extraordinary job!

  • 11th July 2021 at 7:32 pm

    Having read this I believed it was rather informative.
    I appreciate you spending some time and effort to put this
    short article together. I once again find myself spending way too much time both reading and commenting.
    But so what, it was still worthwhile!

  • 22nd July 2021 at 1:49 am

    I’m truly enjoying the design and layout of your website.
    It’s a very easy on the eyes which makes it
    much more pleasant for me to come here and visit more often. Did you
    hire out a designer tto create your theme? Excellent work!

    Also visit mmy web blog title loans (Luca)

  • 22nd July 2021 at 2:28 am

    May I just say what a relief to uncover an individual
    who genuinely understands what thhey are talking about on the net.
    You actually realize how to brinng a problem to light and make it
    important. Moree and more people ought to check this out and understand this side of the story.
    I was surprised you’re not more popular since you surely possrss the gift.

    Chek out my web-site – title loans (Darrel)


Leave a Reply

Your email address will not be published.