FEC Okays Proposed N19.76trn 2023 Budget

The federal executive council (FEC) has approved the proposed N19.76 trillion budget for the 2023 fiscal year.

Femi Adesina, special assistant to the president on media and publicity, disclosed this while addressing state house correspondents on the outcome of the FEC meeting.

He said the council gave the approval at its weekly meeting presided over by President Muhammadu Buhari on Wednesday in Abuja.

Adesina said Buhari would present the budget proposal before a joint sitting of the national assembly on Friday, October 7.

“It was virtually one item in the federal executive council meeting. The budget proposal for 2023 was presented and discussed at length,” the presidential spokesperson said.

“That budget proposal would be taken to the national assembly on Friday morning by the president.”

He, however, declined to give details of the council’s decision as a “mark of respect for the national assembly”.

“It will not be proper to begin to discuss the content of what will be officially presented on Friday,” Adesina said.

“We want to give the national assembly the honour of receiving it first then there will be a breakdown on a later date by the minister of finance.”

Also speaking on the hybrid FEC sessions (in-person and online participants), Adesina said the council was abiding by the country’s COVID-19 protocol.

“You know, you have to follow the protocol, as done by the steering committee on COVID-19. The last protocol they announced was that when you are in an open place, you are at liberty to do without your mask, but when you are in an enclosed place, then it is advisable to still use your mask,” he explained.

“The council chamber is enclosed. There are, I think 42 ministers by the time 42 ministers congregate there, along with other cabinet office staff, it’s becoming choked.

“Then it may not be advisable to have a full-blown physical meeting yet, but I’m sure we’ll get to that point.”