PRESIDENT Bola Tinubu has signed the N28.7 trillion 2024 Budget into law, assenting to the 2024 Appropriation Bill at a brief ceremony at the Presidential Villa in Abuja on Monday.
At the event were the President of the Senate, Senator Godswill Akpabio; the Speaker of the House of Representatives, Hon Tajudeen Abbas; the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and Economic Planning, Atiku Abubakar; the National Security Adviser (NSA), Nuhu Ribadu; Femi Gbajabiamila, Chief of Staff to the President, Abdullahi Ganduje, National Chairman of the ruling All Progressives Congress (APC), Senator Olamilekan Adeola, Chairman of the Senate Appropriation Committee, along with other officials, were also present at the event.
Tinubu signed the budget hours after he arrived in Abuja from Lagos where he spent the past week holidaying.
The 2024 budget is N1.2 trillion higher than the budget he proposed to a joint session of the National Assembly on November 29, 2023.
On Friday, December 29, 2023, the Senate increased the 2024 budget by N1.2tn, moving the budget from N27.5tn to N28.7tn.
The Appropriation Committee, led by Senator Solomon Adeola, reported aggregate expenditure of N28,777,404.073.861, statutory transfers of N1,742,786,788,150, recurrent expenditure of N8,768.5330,852, capital expenditure of N9,995,143,298,028..