President Bola Tinubu has signed the N28.7 trillion 2024 budget into law.
He assented to the 2024 Appropriation Bill during a brief ceremony at the Presidential Villa in Abuja on Monday.
Those who witnessed the ceremony included President of the Senate, Senator Godswill Akpabio, and Speaker of the House of Representatives, Hon Tajudeen Abbas.
Others were the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun; Minister of Budget and Economic Planning, Atiku Abubakar; and the National Security Adviser (NSA), Nuhu Ribadu.
Also present were Chief of Staff to the President, Hon. Femi Gbajabiamila; National Chairman of the ruling All Progressives Congress (APC), Abdullahi Ganduje; Chairman of the Senate Appropriation Committee, Senator Olamilekan Adeola, among others.
Tinubu signed the budget hours after he arrived in Abuja from Lagos where he spent the Christmas holiday.
The 2024 budget is N1.2 trillion higher than the budget, which Tinubu 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 N1.2trillion, moving the figures from N27.5trillion to N28.7trillion.
Tinubu presents 2024 Budget at NASS
According to the report submitted by the Appropriation Committee led by Senator Solomon Adeola, aggregate expenditure was pegged at N28,777,404.073.861; 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 at 3.88 per cent.
