2024 Budget Implementation: President Tinubu Directs MDAs To Provide Monthly Performance Reports
President Bola Tinubu on Monday, January 1, 2024 directed all Ministries, Departments and Agencies (MDA’s), to take responsibility and provide monthly Budget Performance Reports to the Ministry of Budget and Economic Planning, which in turn shall ensure the veracity of such.
This was as he said that the Minister of Finance and Coordinating Minister of the Economy shall hold regular reviews with the Economic Management Team.
President Tinubu, who stated these on Monday, at the signing into law the Appropriation Bill passed by the National Assembly, said that the measures shall be in addition to his chairing periodic Economic Coordination Council meeting.
Tinubu said that he signed the 2024 Appropriation Bill into law in keeping with his avowed commitment to maintaining a timeous, predictable, and efficient budget cycle.
The President assured Nigerians that the implementation of the budget would be efficiently pursued and vigorously monitored.
In his words; “All the institutional mechanisms shall be held to account in ensuring diligent implementation”.
President Tinubu emphasized that his commitment to enhance investment promotion while creating a rules-based society that favours no individual over the law begins with important reforms in the Nigerian judiciary, the funding for which is captured in the 2024 Appropriation Act.
He further said; “Funding the judiciary is a major element in our effort to support a just, rules-based society. Statutory transfer to the Judiciary has been increased from 165 billion naira to 342 billion naira”.
The top priorities of the 2024 budget of N28.7 trillion are defence and internal security, job creation, macro-economic stability, improved investment environment, human capital development, poverty reduction, and social security.
Some of the key estimates are capital expenditure, N10 trillion; recurrent expenditure, N8.8 trillion; debt service, N8.2 trillion, and statutory transfers, N1.7 trillion.
President of the Senate, Godswill Akpabio, and Speaker of the House of Representatives, Hon Tajudeen Abbas were present at the signing ceremony.
A statement by Chief Ajuri Ngelale, Special Adviser to the President on Media and Publicity, stated that other senior government officials present at the brief ceremony include: Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Chief of Staff to the President, Femi Gbajabiamila; Minister of Budget and Economic Planning, Senator Atiku Bagudu, and National Security Adviser, Nuhu Ribadu.
