In order to get more funds for the recruitment of more security personnel both for the police Department often State Services and the military, the special Federal Executive Council convened on Monday to approve the budget has accepted the N727 billion added to the N10.2 trillion Medium Term Expenditure Framework (MTEF) proposal by the National Assembly.
The extra fund will also benefit other critical areas like infrastructure spending. After a five-hour meeting, chaired by President Muhammadu Buhari, the Council accepted the N10.729 trillion returned to the executive from the legislature.
It was learnt that the Council, at Monday’s meeting, approved the 2020 Appropriation Bill which will be presented by the President to the joint session of the National Assembly on Tuesday afternoon. Already there’s increased presence of security at NASS anticipating the arrival of Mr. President.
FEC commended the National Assembly for the increment of the crude oil benchmark from $55 to $57 per barrel and the seeming cordiality between NASS and the executive for the betterment of Nigerians.
The additional $2 will provide the needed cash which led to the expansion of the budget. Hitherto $55 benchmark was contained in the MTEF. However it was adjusted by $2 dollars which provides more money for the government.
It was learnt that officials of the Federal Ministry of Finance, Budget and National Planning, led by the Director-General of the Budget Office, Ben Akabueze, made submissions on the budget.
The early submission is geared towards returning the budget from the May-June cycle to January-December cycle.
Today’s presentation, billed for 2pm, would have taken place in the third week of September, but for President Buhari’s participation at the 74th United Nations General Assembly (UNGA).
Besides, the President was in South Africa from last Wednesday to Friday to parley with his South African counterpart President Cyril Ramaphosa following soured diplomatic relations between both countries as a result of xenophobic attacks in South Africa.
