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Tinubu officially signs N28.7tn 2024 budget into law

Tinubu signed the budget shortly after arriving in Abuja from Lagos, where he spent the past week on holiday...

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Tinubu officially signs N28.7tn 2024 budget into law

President Bola Tinubu has granted formal approval to the N28.7 trillion 2024 Budget, signing the 2024 Appropriation Bill into law at a concise ceremony held at the Presidential Villa in Abuja on Monday.

Present alongside the President during the signing were the President of the Senate, Senator Godswill Akpabio, and the Speaker of the House of Representatives, Hon Tajudeen Abbas.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and Economic Planning, Atiku Abubakar; and the National Security Adviser (NSA), Nuhu Ribadu, were also in attendance.

READ ALSO: Senate passes N28.7tn budget for 2024, increases President’s proposal by N1.2tn

Other notable figures present included the Chief of Staff to the President, Femi Gbajabiamila; the National Chairman of the ruling All Progressives Congress (APC), Abdullahi Ganduje; and Chairman of the Senate Appropriation Committee, Senator Olamilekan Adeola, among others.

Tinubu officially approves N28.7tn 2024 budget into law

Tinubu signed the budget shortly after arriving in Abuja from Lagos, where he spent the past week on holiday.

The 2024 budget exceeds the initial proposal presented to a joint session of the National Assembly on November 29, 2023, by N1.2 trillion.

On Friday, December 29, 2023, the Senate increased the 2024 budget by N1.2tn, escalating it from N27.5tn to N28.7tn.

According to the report submitted by the Appropriation Committee led by Senator Solomon Adeola, the aggregate expenditure was set at N28,777,404,073,861; statutory transfers at N1,742,786,788,150; recurrent expenditure at N8,768,533,030,852; capital expenditure at N9,995,143,298,028, with GDP projected at 3.88 per cent.

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