News
2024 Budget Will Be Passed Before December 30 – House of reps speaker
This revelation occurred during the plenary session following the green chamber’s brief recess for committees to review the budget estimates submitted by President Bola Tinubu.
Tajudeen Abbas, the Speaker of the House of Representatives, announced on Tuesday that the 2024 budget is scheduled to be approved by Saturday, December 30.
This revelation occurred during the plenary session following the green chamber’s brief recess for committees to review the budget estimates submitted by President Bola Tinubu.
The specific budget figure agreed upon wasn’t disclosed, as further coordination with the Senate is still pending.
President Tinubu presented a budget of N27.5 trillion on November 29, with a projected deficit of N9.18 trillion for the 2024 fiscal year, representing 3.88% of Nigeria’s GDP.
The deficit is set to be covered by new borrowings, privatisation proceeds, and drawdown on loans secured for development projects. Notably, the Senate passed the N27.5 trillion budget for a second reading on December 1, 2023.
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