President Bola Tinubu has officially signed the 2024 appropriation bill into law, totaling N28.7 trillion. The signing took place at a brief ceremony in the Presidential Villa in Abuja on Monday.
Tinubu signed the budget hours after he arrived in Abuja from Lagos where he spent the past week holidaying.
The 2024 budget is N1.2 trillion higher than the budget he proposed to a joint session of the National Assembly on November 29, 2023.
Then, the President had pegged the budget deficit for the 2024 fiscal year at N9.18tn.
According to the report submitted by the Appropriation Committee led by Senator Solomon Adeola, aggregate expenditure was pegged at N28,777,404.073.861; statutory transfers at N1,742,786,788,150; recurrent expenditure at N8,768.5330,852; capital expenditure at N9,995,143,298,028 and GDP at 3.88 per cent.
