President Bola Ahmed Tinubu on New Year Day signed into law the 2024 Appropriation Bill
At the Presidential Villa in Abuja on the same day he arrived from Lagos where he had spent the past week holidaying, Tinubu signed the N28.7 trillion budget document.
Earlier approved by the National Assembly, the 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, the Senate increased the 2024 budget by N1.2 trillion, jacking up the budget from N27.5 trillion to N28.7 trillion.
The Appropriation Committee led by Senator Solomon Adeola said that the 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.