FEC Approves N727b NASS Increment On 2020 Budget – TheNigerialawyer

The Federal Executive Council (FEC) on Monday accepted the
increase in the Medium Term Expenditure Framework (MTEF) by the
National Assembly from N10.002 trillion to N10.729 trillion.

It was gathered from a reliable source that the Extraordinary
FEC meeting chaired by President Muhammadu Buhari over the 2020
Budget gave the approval.

There was no press briefing at the end of the meeting at the
Presidential Villa, Abuja.

The source, who spoke on a condition of anonymity, said FEC
commended the National Assembly for the increment of the crude oil
benchmark from $55 per barrel to $57 per barrel.

He said, “FEC is happy with the National Assembly for increasing
the benchmark to $57 per barrel. The additional $2 is to take care
of recruitment in the security agencies and also attend to critical
areas.

“This is a sign that the legislature and the executive will work
together for the interest of Nigerians. It is a good development.”
he said

During the over five hours meeting, officials of the Federal
Ministry of Finance, Budget and National Planning led by the
Director General of Budget, Ben Akabueze, had made submissions on
the budget.

President Buhari is scheduled to lay the 2020 Budget proposal
before the joint sitting of the National Assembly on Tuesday.

A statement issued by the Special Adviser to the President on
Media and Publicity, Chief Femi Adesina, on Friday night, had said
the meeting is to put finishing touches to the 2020 budget
proposal.