Buhari Signs 2018 Budget Today, Cancels FEC Meeting

The presidency yesterday explained that today’s Federal Executive Council (FEC) meeting was cancelled because the Eid-el-Fitr holidays of last Friday and Monday affected the preparation of council memoranda.

Giving the explanation in an abrupt statement, the Special Adviser to the President on Media and Publicity, Mr. Femi Adesina, added that President Muhammadu Buhari would today sign the 2018 Appropriation Bill into law.

“President Buhari will sign the 2018 Appropriation Bill into law Wednesday (today) at noon
Meanwhile, the FEC meeting will not hold today. This is due to the Eid-el-Fitr holidays last Friday and Monday, which affected preparation of council memoranda,” Adesina said.

The N9.1 trillion budget passed by the National Assembly on May 17 is made up of N3.5 trillion recurrent (non-debt) expenditure and N2.8 trillion capital expenditure.
The budget is N500 billion higher than the N8.6 trillion proposal presented to the National Assembly by Buhari in November 2017.