Tinubu Signs N28.78 Trillion 2024 Budget into Law
President Bola Tinubu has officially signed the N28.78 trillion 2024 appropriation bill into law at the State House in Abuja on Monday. The signing ceremony was attended by several key figures, including Senate President Goodswill Akpabio, Speaker of the House Representatives Abbas Tajudden, Minister of Finance and Coordinating Minister of the Economy Wale Edun, and Minister of Budget and Economic Planning Abubakar Bagudu.
Also present were Chairman of the Senate Committee on Appropriation Solomon Adeola, his House counterpart Abubakar Bichi, and Chief of Staff to the President Femi Gbajabiamila. The National Assembly had passed the budget during a special plenary session on Saturday, increasing it from the initial N27.5 trillion proposed by the president in November to N28.7 trillion, a difference of N1.2 trillion.
With the signing of the budget, President Tinubu’s administration is set to continue the January-December budget cycle initiated by the previous administration under President Muhammadu Buhari. This move aims to enhance budget implementation and fiscal planning in the country.
The 2024 budget is expected to focus on key sectors such as infrastructure development, healthcare, education, and job creation, with an emphasis on stimulating economic growth and addressing the needs of the Nigerian people. The increase in the budget reflects the government’s commitment to addressing critical areas of national development and ensuring that adequate resources are allocated to priority projects.
The signing of the appropriation bill into law marks a significant milestone in Nigeria’s fiscal planning process for the year 2024. It signals the government’s readiness to commence the implementation of key programs and projects outlined in the budget, with a focus on achieving sustainable economic growth and development.
Source: Premium Times
