President Bola Tinubu has presented the 2024 Appropriation Bill totaling N27.5 trillion before a joint session of the Senate and the House of Representatives.
The budget dubbed the “Budget of Renewed Hope,” was formally introduced by President Tinubu during the joint session, emphasizing a vision for optimism and rejuvenation.
President Tinubu made his entrance into the House of Representatives Chamber at 11:13 a.m., with the National Anthem marking the commencement of the proceedings upon his arrival.
The President of the Senate and Chairman of the National Assembly, Godswill Akpabio, officially called the House to order at 11:15 a.m. The reading of the welcome address commenced at 11:20 a.m., delivered by Akpabio.
Three weeks before the budget presentation, President Tinubu had submitted the 2024–2026 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper to both chambers.
In this document, a total expenditure of N26.1 trillion was initially proposed for the 2024 fiscal year.
After two weeks of interactive sessions between the Senate Committee on Finance and the heads of ministries, departments, and agencies on revenue and expenditure projections, the MTEF was approved but later adjusted to N27.5 trillion, the figure presented in today’s session.