In a significant development, the Nigerian Senate has given its nod to an increase of N1.2 trillion in the proposed 2024 budget, elevating the total budget from N27.5 trillion to N28.7 trillion.
The alteration rebuffed popular assertions that the president had ordered the National Assembly not to alter the figures as presented. However, the Senate nevertheless heeded President Tinubu’s public injunction to the National Assembly to pass the budget before the end of the year despite the late presentation.
Apparently, Appropriation Committee, led by Senator Solomon Adeola, presented a comprehensive report detailing the adjustments, with the new aggregate expenditure set at N28,777,404,073,861.
Apparently, the Senate’s approval of the increased budget signifies a critical step in the fiscal planning for the upcoming year, reflecting the government’s responsiveness to economic dynamics and priorities.
As the nation awaits further details and the budget’s subsequent stages, this development holds implications for various sectors and initiatives outlined in the revised fiscal plan.
HOBNOB NEWS
