The National Assembly had initially fixed 23rd January 2024 for its resumption after adjourning following approval of the 2024 Budget in December The National Assembly has postponed the resumption of its plenary session, originally scheduled for January 23, 2024 to the 30th of January, 2024. This was contained in a statement addressed to members of the House of Representatives by the Clerk to the House of Representatives, Yahaya Danzaria. Recall that the National Assembly had...
Continuing our review of the first six months into the four-year tenure of the tenth Assembly, OrderPaper dives into the 1331 bills that have been sponsored thus far, selecting the top 1o bills with the potential to have an impact on citizens and add value to the nation. Lawmaking is one of the most common duties attributed to a legislator. While some would shy away from this duty, stating that the lack of...
The ministry’s director of information, Dr. Joel Oruche, has affirmed that the ministry is not responsible for providing the rice palliative which he described as constituency projects. The Federal Ministry of Agriculture and Food Security has refuted rumours that it is holding up the delivery of rice that President Bola Tinubu reportedly gave to members of the National Assembly to distribute to citizens in their senatorial districts and federal constituencies. Recall that lawmakers in the...
As 2024 commences, the financial tension in the air is palpable. From the lingering effects of fuel subsidy removal, steady rise in inflation and prices of essential commodities, unabating corrupt practices, and poor public finance management, a lot is hinged on the successful implementation of the 2024 budget. To achieve this, the GIFT Project advocates effective citizen engagement, pragmatic parliamentary oversight, and urgent fiscal reforms to stir things in the right direction. The ceremonies leading...
The National Assembly has passed N28.5 trillion as the budget for the 2024 fiscal year, a significant increase from what was proposed. A review of the breakdown of the budget shows that some of the ministries had a significant increase in their budgetary allocation, and others slightly. On Saturday, December 30, 2023, the National Assembly passed N28.5 trillion as the budget for the 2024 fiscal year, 30 days after President Bola Tinubu presented the...
President Tinubu in the 2024 appropriation bill signed into law followed the tradition of his predecessor with a budget deficit of N9.178tn A Budget typically comprises 2 main items. The revenue (income) and the expenditure (how the income is to be disbursed and spent majorly as a capital project or a recurrent project). A budget deficit occurs when one’s expenditure is more than the revenue. That is, you plan to spend more than the earnings....
The President makes history as he not only signs 2024 budget but also endorses the extension of the 2023 supplementary appropriation earlier passed by the parliament President Bola Tinubu has signed into law the 2024 budget of N28.7 trillion. The president also signed the N2.2tn supplementary appropriation for 2023 which will now run alongside the 2024 budget until March 31, 2024. He appended his signature to the bills on Monday, January 1, 2024. OrderPaper recalls...
The representatives explained that inflation and the need for a realistic dollar exchange rate necessitated the increase of N1.2trn in the 2024 budget The National Assembly has passed the 2024 budget with an increase of N1.2trn. The lawmakers, who held a special session to pass the budget, increased the estimate from N27.5 trillion presented by President Bola Tinubu to N28.7trillion. The Senate also passed the 2024 budget with a similar raise of the estimates. Explaining...
In passing the budget the Senate also jerked up the exchange rate for 2024 to N800 per US dollar but retained oil production and price benchmarks as proposed by President Tinubu The Senate has approved the budget for the 2024 fiscal year. The budget was, however, increased from N27.5 trillion presented by President Bola Tinubu on November 29, 2023 to N28.7 trillion. This shows an increase of over N1.2 trillion. The Senate also increased the...
The face-off between the Benue State Governor and the Secretary to the Government of the Federation has escalated with members of the National Assembly from the state in proxy battle The Benue Caucus of the National Assembly has urged President Bola Tinubu to intervene in the crises within the All Progressives Congress (APC) in Benue State allegedly fueled by Governor Hyacinth Alia. The lawmakers from both chambers who are of the APC accused the governor...
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