November 29, 2023
1 min read

Tinubu presents N27.5trn 2024 budget

President Bola Tinubu presented the 2024 Appropriation Bill of N27.5 trillion to a joint session of the Senate and the House of Representatives.

The budget was named the “Budget of Renewed Hope”. President Tinubu arrived at the Chamber of the House of Representatives at 11:13 a.m. The National Anthem was recited upon his arrival.

At 11:15 a.m, Godswill Akpabio, the President of the Senate and Chairman of the National Assembly, called the House to order. Akpabio began the reading of the welcome address at 11:20 a.m.

Three weeks ago, ahead of today’s budget presentation, Tinubu submitted the 2024-2026 MTEF and Fiscal Strategy Paper to both chambers. The paper proposed a total expenditure profile of N26.1 trillion for the 2024 fiscal year.

After two weeks of interactive sessions with heads of ministries, departments, and agencies on revenue and expenditure projections, the Senate, through its Committee on Finance, approved the MTEF. However, it was later adjusted to N27.5 trillion, which is being presented today.

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