By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: FG proposes N26.01trn for 2024 fiscal year
Share
Sign In
Notification Show More
Latest News
NCAA Calls for Legal Action Against Fuji Star K1 De Ultimate Over Alleged Disruptive Behavior on ValueJet Flight
Aviation Business Judiciary Legal/Courts Metro News
FG Issues Mandatory Compliance Directive To MDAs
Business Civil Service Economy News
AITEC-WORLD Launches Initiative To Revolutionize Africa’s Tourism, Economic Cooperation 
Business Civil Society Organisations Culture Environment News Travel/Leisure
Media Trials: False Scandals Undermining Police Integrity
Insecurity Media Metro News
Dangote Bags ‘Cement Company of the Year’ Award At Africa Housing Show
Awards and Recognitions Business Metro News
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Business > Economy > FG proposes N26.01trn for 2024 fiscal year
EconomyNews

FG proposes N26.01trn for 2024 fiscal year

Publisher
By Publisher Published October 17, 2023
Share
3 Min Read
SHARE

 

The federal government has proposed the sum of N26.01 trillion for the 2024 appropriation based on the oil price benchmark of $73.96 and 21 per cent interest rate.

Minister of Budget and Economic Planning, Atiku Bagudu, disclosed this to State House Correspondents at the end of the Federal Executive Council (FEC) meeting on Monday in Abuja.

He said the budget would be presented to the National Assembly before the end of the year since President Bola Tinubu was already engaging with the legislative arm towards getting their buy-in

He said the budget was expected to consolidate the various economic reforms initiated by the present administration aimed at improving the standard of living of Nigerians and attracting investors.

Mr Bagudu said that the assumption of the budget was based on the various diplomatic engagements by the president and other government functionaries that were expected to improve inflow and boost the exchange rate.

Concrete for road projects

Dave Umahi, minister of works, also disclosed that FEC approved the use of concrete for road projects across the country including those of new ones, depending on the level of completion.

He said, ‘’FEC was also informed on the ongoing projects and to mitigate so much inflation and variation of the projects, to have some of the projects that have attained completion to be redesigned on concrete and going forward for new projects to be done on concrete.

‘’FEC approved that concept that most of the ongoing projects should be designed on concrete pavements depending on the level of completion and if you’re doing Asphalt there are also conditions for that.

“FEC also approved the coastal road running from Phase 1 which runs from Lagos to Port Harcourt to Calabar. Phase 2 runs from S4 tearing off from this stretch to Sokoto and to Ogoja.

“It was approved to be done on Engineering, Procurement and Construction plus Financing.

“Eight roads that were started in the past administration for concessioning that have gone through all the processes were also approved and that the financial closure should be reached November.’’

Mr Umahi also said that a 24-hour approval would be given to any state interested in taking over road projects in their domain, while particular conditions must be met for the agreement to take effect.

He said the project by the states must conform to the standard of the Federal Ministry of Works as well as meet the tolling system through which they would recoup their investment.

The minister also disclosed that FEC approved the NNPC and FIRS  road projects, which they oversee and fund across the country. (NAN)

Like this:

Like Loading...

Related

You Might Also Like

NCAA Calls for Legal Action Against Fuji Star K1 De Ultimate Over Alleged Disruptive Behavior on ValueJet Flight

FG Issues Mandatory Compliance Directive To MDAs

AITEC-WORLD Launches Initiative To Revolutionize Africa’s Tourism, Economic Cooperation 

Media Trials: False Scandals Undermining Police Integrity

Dangote Bags ‘Cement Company of the Year’ Award At Africa Housing Show

TAGGED: 2024 Budget, Appropriation, Budget, FG

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher October 17, 2023
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article Senate Directs BPE To Stop Planned Sale Of NCC’s 5 Coal Blocks
Next Article Nigeria ranks 123 in global gender inequality
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

NCAA Calls for Legal Action Against Fuji Star K1 De Ultimate Over Alleged Disruptive Behavior on ValueJet Flight
Aviation Business Judiciary Legal/Courts Metro News August 8, 2025
FG Issues Mandatory Compliance Directive To MDAs
Business Civil Service Economy News August 7, 2025
AITEC-WORLD Launches Initiative To Revolutionize Africa’s Tourism, Economic Cooperation 
Business Civil Society Organisations Culture Environment News Travel/Leisure August 7, 2025
Media Trials: False Scandals Undermining Police Integrity
Insecurity Media Metro News August 7, 2025

You Might also Like

AviationBusinessJudiciaryLegal/CourtsMetroNews

NCAA Calls for Legal Action Against Fuji Star K1 De Ultimate Over Alleged Disruptive Behavior on ValueJet Flight

August 8, 2025
BusinessCivil ServiceEconomyNews

FG Issues Mandatory Compliance Directive To MDAs

August 7, 2025
BusinessCivil Society OrganisationsCultureEnvironmentNewsTravel/Leisure

AITEC-WORLD Launches Initiative To Revolutionize Africa’s Tourism, Economic Cooperation 

August 7, 2025
InsecurityMediaMetroNews

Media Trials: False Scandals Undermining Police Integrity

August 7, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d