Senators generally spoke in favour of the N27.5 trillion budget bill and expressed willingness to pass it for second reading The Senate on Thursday commenced debate on the general principles of the proposed N27.5 trillion budget for 2024. Recall that the budget estimate was laid at a joint sitting of the National Assembly by President Bola Tinubu on Wednesday. Senators took turns to air their views on the proposal. In his lead debate, the Senate...
The President said new borrowings are inevitable to fund the budget deficit in keeping with the trend before he assumed office The N9.18 trillion deficit for the proposed 2024 budget will be financed using a N7.83 trillion fresh loan to be taken by the federal government, says President Bola Ahmed Tinubu. The federal government will also use multilateral and bilateral loans secured for specific projects and privatisation proceeds of N22 billion to fund the...
President Tinubu says his first (2024) budget promises to be the foundation for the reforms he plans to take Nigeria to greatness In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is...
President of the Senate, Godswill Akpabio, in his welcome remark at the 2024 budget presentation session, outlines why the 10th National Assembly is proud to work collaboratively with President Bola Tinubu. “On behalf of the Right Honourable Speaker of the House of Representatives, the Distinguished Deputy Senate President, the Right Honorable Deputy Speaker of the House of Representatives, the Distinguished Senate Leader, Principal Officers of both Chambers, Distinguished Senators and Honourable Members of the House...
The much-anticipated student loan scheme has now received budgetary allocation to ensure commencement next year President Bola Tinubu has said the student loan scheme will become operational by January 2024. He disclosed this on Wednesday during the presentation of the 2024 Appropriation Bill at the National Assembly in Abuja. According to him, the scheme is a sustainable model for funding tertiary education, and increasing citizen’s access to higher education. Describing the budget as the Renewed...
Akpabio also assured that the National Assembly will conduct a thorough and meticulous review of the budget estimates. The President of the Senate, Godswill Akpabio, has assured that the National Assembly will ensure that the 2024 budget reflects the principles of transparency, accountability and inclusiveness. This is as he attributed the cordial relationship between the Executive and the 10th National Assembly to Ex-lawmakers holding positions in the Executive. Akpabio made this remark in his welcome...
The 2024 budget deficit will be financed by new borrowing totaling N7.83 and N298.40 billion from privatisation proceeds and N1.95 trillion drawdown on multilateral and bilateral loans for specific development projects. President Bola Tinubu has listed Nigeria’s national defense and internal security, local job creation, macroeconomic stability, investment environment optimisation, human capital development, poverty reduction, and social security as some of the priorities of the proposed 2024 budget. This is even as he...
Abbas said the budget defense will be carried out jointly by the Senate and the House. The House of Representatives will suspend plenary for two weeks to allow for defense of the 2024 budget by Ministries, Agencies, and Departments of Government. Speaker of the House of Representatives, Rep. Tajudeen Abbas, had announced that the Green Chamber will sit tomorrow (Thursday) and Friday to debate the 2024 budget due to the urgency of the task. The decision...
The Speaker said the National Assembly will ensure that the 2024 budget includes concrete strategies for sustainable debt management. The Speaker of the House of Representatives, Rep. Tajudeen Abbas, has charged revenue-generating agencies like the Nigeria Customs Service (NCS), and Federal Inland Revenue Service (FIRS) to double their targets to meet the N18 trillion revenue projected in the 2024 budget. The Speaker also enjoined the agencies to focus on raising more revenue through tax reform,...
President Bola Tinubu has presented the 2024 budget estimates of N27.5trn before a joint session of the National Assembly This is the President’s first budget presentation since he assumed office on May 29, 2023. He arrived at the National Assembly Complex at 11:10 am alongside Vice President Kashim Shettima; the Chief of Staff to the President, Femi Gbajabiamila; Secretary to the Government of the Federation, George Akume; Minister of the Federal Capital Territory, Nyesom Wike;...
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