The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has announced that the Federal Government’s revenue for the first half of 2024 has exceeded its budgetary targets.
Edun, who announced this at a press briefing in Abuja on Thursday, also clarified that the Supreme Court’s proceedings granting financial autonomy to Local Governments have not yet been communicated to the Attorney-General of the Federation for proper study and implementation.
A seven-man Supreme Court panel made the landmark decision on July 11, 2024, but some state governors opposed it.
The minister explained that the process was still in its early stages and further steps would be taken once the full details were available.
A Federal Government committee was set up to examine the practicability of the judgment. “The actual proceeding has not been handed down to the AGF,” the finance minister stated.
This indicates that the direct disbursement of funds to Local Governments, initially expected to commence at the Federation Account Allocation Committee’s monthly meeting last week, will be delayed until the committee fully reviews the Supreme Court’s proceedings.
