On Saturday, December 30, 2023, the Nigerian Senate has called a plenary session to approve the 2024 Appropriations Bill.
Recall that President Bola Ahmed Tinubu sought prompt approval by the end of the year when he submitted the N27.5 trillion budget plan before the National Assembly’s joint session in November.
The planned revenue for the budget is N18.324 trillion, with a N9.18 trillion shortfall that will be covered by borrowing from both domestic and foreign sources as well as earnings from privatisation.
In order to expedite the passage of the budget, the Senate had previously decided to meet again on Friday, December 29, 2023.
The plenary was rescheduled for Saturday, December 30, 2023 by 10 am, according to a statement released by Senate Clerk Chinedu Francis Akubueze.
The House of Representatives established the same deadline for enacting the budget, thus this move is in line with their position.
President Tinubu dubbed the budget the “Budget of Renewed Hope,” highlighting its emphasis on attaining macroeconomic stability, decreasing poverty, and facilitating greater access to social security, among other goals.
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