JUST IN: Senate passes N28.7tn as 2024 appropriation bill

By Biola Adebayo On Dec 30, 2023

Rivers, Court, nullify, budget,pro-Fubara lawmakers — {JUST IN} Rivers: Court nullifies N800bn budget passed by pro-Fubara lawmakers

The Senate has approved N28.7 trillion as the 2024 appropriation bill.

The upper chamber passed the bill at the plenary on Saturday.

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 -N1,742,786,788,150; recurrent expenditure- N8,768.5330,852; capital expenditure-N9,995,143,298,028 and GDP at 3.88%.

President Bola Tinubu, on November 29, presented a total of N27.5tn budget proposal to a joint session of the National Assembly.

The President pegged the budget deficit for the 2024 fiscal year at N9.18 tn.

He said the deficit represents 3.88 percent of Nigeria’s gross domestic product.

More soon….