President Tinubu Enacts N28.7 Trillion 2024 Budget

President Bola Ahmed Tinubu, President of Nigeria 

The N28.7 trillion 2024 budget is signed into law by President Tinubu

Bola Tinubu, the president, has officially signed the N28.7 trillion 2024 Budget into law.

He gave his approval to the 2024 Appropriations Bill on Monday during a brief ceremony held at the Presidential Villa in Abuja.

The President of the Senate, Senator Godswill Akpabio, and the Speaker of the House of Representatives, Hon. Tajudeen Abbas, were among those present when the President signed.

There were also the National Security Adviser (NSA), Nuhu Ribadu, Minister of Budget and Economic Planning, Atiku Abubakar, and Minister of Finance and Coordinating Minister of the Economy, Wale Edun.

Among those present 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 for 2024 is N1.2 trillion more than the one he presented to the National Assembly during a joint session on November 29, 2023.

Read: President Tinubu and Vice President Shettima to Spend N5.1 Billion On Foodstuff, Refreshments, Others

The 2024 budget was raised by N1.2 trillion by the Senate on Friday, December 29, 2023, making it N28.7 trillion instead of N27.5 trillion. The Appropriations Committee, led by Senator Solomon Adeola, submitted a report that had 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.