Tinubu presents N27.5tn 2024 budget to Nat’l Assembly, asks for speedy passage
President Bola Tinubu on Wednesday presented the Appropriation Bill of the federal government for the year 2024 tagged ‘Budget of Renewed Hope’ to a joint session of the National Assembly.
This is the president’s first budget presentation to the National Assembly since assuming power in May this year.
The president told the lawmaker to give attention to the bill and ensure it’s speedy passage, and that he expects it’s implementation to kick off by January 1, 2024.
Giving a breakdown of the 2024 Appropriation Bill, the President said: “Accordingly, an aggregate expenditure of 27.5 trillion naira is proposed for the Federal Government in 2024, of which the non-debt recurrent expenditure is 9.92 trillion naira while debt service is projected to be 8.25 trillion naira and capital expenditure is 8.7 trillion naira.
Nigeria remains committed to meeting its debt obligations. Projected debt service is 45% of the expected total revenue.
Tinubu presents N27.5tn 2024 budget to Nat’l Assembly, asks for speedy passage
President Bola Tinubu on Wednesday presented the Appropriation Bill of the federal government for the year 2024 tagged ‘Budget of Renewed Hope’ to a joint session of the National Assembly.
This is the president’s first budget presentation to the National Assembly since assuming power in May this year.
The president told the lawmaker to give attention to the bill and ensure it’s speedy passage, and that he expects it’s implementation to kick off by January 1, 2024.
Giving a breakdown of the 2024 Appropriation Bill, the President said: “Accordingly, an aggregate expenditure of 27.5 trillion naira is proposed for the Federal Government in 2024, of which the non-debt recurrent expenditure is 9.92 trillion naira while debt service is projected to be 8.25 trillion naira and capital expenditure is 8.7 trillion naira.
Nigeria remains committed to meeting its debt obligations. Projected debt service is 45% of the expected total revenue.
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