Senate Passes 2024 Appropriation Bill Of N28.7tn

The Senate at plenary on Saturday, December 30, 2023 approved and passed the 2024 Appropriation Bill of N28.7 trillion.

The Senate approval and passage followed a report submitted by the Appropriation Committee chaired by Senator Solomon Adeola.

The Appropriation Bill passed by the Senate showed that an Aggregate Expenditure was pegged at N28,777,404.073.861, while Statutory transfers is N1,742,786,788,150; Recurrent Expenditure – N8,768.5330,852; Capital Expenditure-N9,995,143,298,028 with a GDP at 3.88%.

President Bola Ahmed Tinubu had on November 29, 2023 presented a proposal of N27.5tn Appropriation to the joint session of the National Assembly.

Tinubu in the Budget he presented to the National Assembly, pegged the budget deficit for the 2024 fiscal year at N9.18trillion with a deficit of 3.88 percent of Nigeria’s gross domestic product.