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President Muhammadu Buhari left Kenya yesterday to Ethiopia where he attended an African Union Heads of Government meeting. Back home in Nigeria, the federal executive council (FEC) met at the State House to discuss effective implementation of the budget.
A lot is riding on an effective implementation of the budget this year, as the FG believes that it has the potential to stimulate the economy, despite the massive amount of pork which have been discovered therein. The budget is currently being deliberated upon in the national assembly and is not expected to be passed until March.
Meanwhile, at the National Economic Council meeting held 2days ago, which was also presided over by Vice President Yemi Osinbajo and had state governors in attendance, the budget was a notable part of the agenda, with NEC discussing ways to ensure that the entire capital expenditure component of the budget is implemented in the face of dwindling oil revenue. NEC considered reintroducing tolls on federal roads and expanding the tax net. They however ruled out increase in taxes this year.
See Photos below from the cabinet meeting above
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