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...
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...
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;...
The Leader of the Senate faulted the bill sponsor for not presenting a copy of the amendment to Senators. The Senate has stepped down the second reading of a bill seeking to allow political parties to nominate and fill vacant seats in the National and State Assemblies without bye-election in the event of the death or resignation of a legislator.  The Bill titled, “A Bill for an Act to Amend the Electoral Act, 2022 to...
The Red Chamber also confirmed eleven others as members of the Commission. The Senate has confirmed the appointment of Professor Tunji Olaopa as the Chairman of the Federal Civil Service Commission (FCSC). The confirmation followed the consideration of a report of the screening and approval of the nominee presented by the Chairman Committee on Establishment and Public Service Matters, Senator Oluwole Fasuyi Cyril (APC, Ekiti North) during Tuesday’s plenary. The Senate also confirmed the following...
President Tinubu also sought the approval of NASS to borrow $8.6bn and €100m for the execution of projects. The Senate has received a communication from President Bola Tinubu indicating his intention to present the 2024 Appropriation Bill to a joint session of the National Assembly tomorrow, Wednesday 29th November by 11 am. The letter was read by the President of the Senate, Godswill Akpabio at plenary on Tuesday, and subsequently approved. The letter read in...
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