The president of Nigeria, Bola Tinubu, has officially signed the N28.7 trillion 2024 Budget into law.
At a brief ceremony on Monday at the Presidential Villa in Abuja, the President gave his consent to the Appropriations Bill.
Speaker of the House of Representatives, Hon. Tajudeen Abbas, and Senate President Godswill Akpabio were present at the occasion.
Attending the ceremony were National Security Adviser (NSA) Nuhu Ribadu, Minister of Budget and Economic Planning Atiku Bagudu, Minister of Finance and Coordinating Minister of the Economy Wale Edun.
Among those in attendance at the budget signing ceremony were Senator Olamilekan Adeola, the chairman of the Senate Appropriations Committee; Abdullahi Ganduje, the national chairman of the ruling All Progressives Congress (APC); and Chief of Staff to the President Femi Gbajabiamila.
Shortly after arriving in Abuja from Lagos, where he had been on vacation for the previous week, Tinubu signed the budget.
The budget that was signed for 2024 is N1.2 trillion more than the one that the President suggested during a joint meeting of the National Assembly on November 29, 2023.
But on Friday, December 29, 2023, the Senate raised the budget for 2024 from N27.5 trillion to N28.7 trillion, an increase of N1.2 trillion.
The Appropriations Committee, led by Senator Solomon Adeola, submitted a report that included the following figures: GDP at 3.88 percent; statutory transfers at N1,742,786,788,150; recurrent expenditure at N8,768.5330,852; capital expenditure at N9,995,143,298,028; and aggregate expenditure at N28,777,404.073.861.
Facts..
•The 2024 Budget is N28,777,404.073.861 trillion.
•It’s the President’s first budget that the first produced by his administration as number citizen.
•Tinubu’s government has the support of legislators to rekindle the renewed hope.
•Its performance at the end of this fiscal year will tell alot about the administration.
• Tinubu originally submitted N27.5 trillion
•Senate deemed it necessary to raise the bar to N28.7 trillion.
•it has an increase of about N1.2 trillion.
