President Bola Tinubu has endorsed the 2024 Budget, amounting to N28.78 trillion, at the Presidential Villa in Abuja Upon his arrival at 2 pm, the President proceeded directly to the brief budget signing event, accompanied by key government figures These government figures include Senate President Godswill Akpabio and House of Representatives Speaker Hon Tajudeen Abbas.
President Bola Tinubu officially approved the 2024 budget, totalling N28.7 trillion, during a brief ceremony at the Presidential Villa in Abuja on Monday, January 1. At the signing were notable figures such as the President of the Senate, Senator Godswill Akpabio, and the Speaker of the House of Representatives, Hon Tajudeen Abbas.
Other attendees included the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and Economic Planning, Atiku Abubakar; National Security Adviser (NSA), Nuhu Ribadu; Chief of Staff to the President, Femi Gbajabiamila; National Chairman of the ruling All Progressives Congress (APC), Abdullahi Ganduje; and Chairman of the Senate Appropriation Committee, Senator Olamilekan Adeola, among others.
Tinubu endorsed the budget shortly after he arrived in Abuja from a week-long holiday in Lagos. The 2024 budget has been increased by N1.2 trillion compared to the initial proposal presented to the National Assembly on November 29, 2023.
On December 29, 2023, the Senate approved the upward adjustment, raising the budget from N27.5 trillion to N28.7 trillion. As outlined in the Appropriation Committee’s report, led by Senator Solomon Adeola, the total expenditure is set at N28,777,404,073,861, with statutory transfers at N1,742,786,788,150, recurrent expenditure at N8,768,5330,852, capital expenditure at N9,995,143,298,028, and GDP growth projected at 3.88 per cent.
by Segun Adeyemi
