November 28, (THEWILL) – President Bola Tinubu has transmitted an executive communication, indicating his intention to present the 2024 Appropriation Bill to a joint session of the National Assembly on Wednesday, November 29, by 11 am.
The President’s letter was read at plenary on Tuesday, by Senate President, Godswill Akpabio.
The Federal Executive Council (FEC), on Monday, approved an Appropriation Bill of N27.5 trillion, being the proposed 2024 budget for Nigeria.
The proposed budget is N1.5 trillion higher, than the initial N26 trillion, earlier approved by the FEC before the recent passage of the Medium Term Framework (MTEF) and Fiscal Policy document by the National Assembly.
Speaking with State House correspondents, Minister of Planning and Budget, Atiku Bagudu, the “forecast revenue is now N18.32 trillion, which is higher than the 2023 revenues, including that provided in the two supplementary budgets.
“Equally and commendably, the deficit is lower than that of 2023. Details of the Renewed Hope Budget will be announced by Mr. President when he makes the presentation to the National Assembly.”
About the Author
