Tinubu Writes Senate On 2024 Budget

Tinubu Writes Senate On 2024 Budget
  • PublishedNovember 28, 2023

President Bola Tinubu has written to the Senate to indicate his intention to present the 2024 Appropriation Bill to a joint session of the National Assembly.

It was learnt that Tinubu is expected  tomorrow, Wednesday, November 29, by 11 am.

Senate President Godswill Akpabio read the letter by the President to lawmakers during the plenary on Tuesday.

The letter read partly; “May I crave the indulgence of the Senate to grant me the slot of 11:00 hours on Wednesday the 29th day of November to formally present the 2024 Appropriation bill to a joint session of the National Assembly.

“While I look forward to addressing the joint session please accept the distinguished Senate President and Senators the assurances of my highest regards.

Following the development Senate clerk Barrister Chinedu Akubueze informed the Senators that were would restrictions of movement in the entrances to the National Assembly, the clerk thereafter advised the Lawmakers to make use of the Presidential Villa gate to gain easy access into the Senate building.

Recall that ahead of the budget presentation, Tinubu had three weeks ago, forwarded to both chambers of the National Assembly, the 20224 – 2026 Medium Term Expenditure Framework and Fiscal Strategy Paper where the sum of N26.1tn was proposed as the total expenditure profile for the 2024 fiscal year.

The Senate through its committee on Finance after two weeks of interactive sessions with heads of Ministries, Departments and Agencies on revenue and expenditure projections made for them, approved the MTEF.

It specifically, approved the N26.1tn proposed as 2024 budget and other parameters as proposed by the President.

It also approved the new borrowings of N7.8tn, pegs benchmark oil price for 2024 at $73.96 and oil production volume per day at 1.78m barrels.

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