Nigerian president signs N28.7 trillion 2024 Budget into law

President Bola Tinubu has signed the N28.7 trillion 2024 Budget into law, the first of its kind for his administration.

Mr. Tinubu, who recently returned to Abuja from his holiday trip to Lagos, assented to the Appropriation Bill at a brief ceremony at the Presidential Villa in Abuja on Monday.

Present at the ceremony were the President of the Senate, Senator Godswill Akpabio, and the Speaker of the House of Representatives, Hon. Tajudeen Abbas.

Others are the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, Minister of Budget and Economic Planning, Atiku Bagudu and National Security Adviser (NSA), Nuhu Ribadu.

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, and other government officials witnessed the signing of the financial appropriation.

Recall that the Senate on Friday, December 29, 2023, raised the 2024 budget by N1.2 trillion, from the initial sum of N27.5 trillion to N28.7 trillion.

The total expenditure was put 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.