1st January, 2024
By Taiwo Okanlawon
President Bola Amhed Tinubu on Monday signed the 2024 Budget of N28.78 trillion into law at the Presidential Villa, Abuja.
Tinubu, who arrived his office from the airport at exactly 2pm, headed straight for the brief budget signing ceremony, surrounded by senior government officials.
The event was witnessed by the President of the Senate, Senator Godswill Akpabio, and the Speaker of the House of Representatives, Hon Tajudeen Abbas.
Others at the event are the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun; Minister of Budget and Economic Planning, Alhaji Atiku Abubakar; the National Security Adviser (NSA), Mallam Nuhu Ribadu.
Also on ground were the Chief of Staff to the President, Hon Femi Gbajabiamila; National Chairman of the ruling All Progressives Congress (APC), Dr Abdullahi Ganduje; Chairman of the Senate Appropriation Committee, Senator Olamilekan Adeola, among others.
The signed 2024 budget is N1.2 trillion higher than the budget the President proposed to a joint session of the National Assembly on November 29, 2023.
However, on Friday, December 29, 2023, the Senate increased the 2024 budget by N1.2 trillion, from the initial sum of N27.5 trillion to N28.7 trillion.
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.