The federal executive council in a special session yesterday approved the 2019 budget proposal.
This was disclosed by the minister of budget and National planning, Udo Udoma after the FEC meeting presided over by President Muhammadu Buhari at the presidential Villa, Abuja.
According to him, the budget will be presented to the National Assembly as soon as possible.
“We are hoping that as soon as possible it would be presented. We will be in touch immediately with the National Assembly to fix the date. The budget is ready,” he said.
However, Udoma declined comment on the details of the proposal when asked buy reporters, noting that, “ it is the President’s budget, he presents it to the National Assembly.”
There were concerns that the President may not present the budget to NASS this year but with FEC approval today there are indications that the legislature will get the budget before going on their Christmas recess.
Recall that FEC, in October approved the 2019-2021 Medium Term Expenditure Framework, MTEF, and Fiscal Strategic Paper, FSP .
The council had also approved a budget proposal of N8.73 trillion for the 2019 fiscal year which is about N400 billion lower than that of 2018.