After two days of debate, the 2024 appropriations bill was effectively passed on its second reading in the House of Representatives.
During the debate, a few legislators voiced their concerns about the government’s plan to raise money through high taxes, pointing out possible negative consequences for importers.
Concerns were also expressed over the viability of the suggested goal of producing 1.7 million barrels of crude oil per day.
This Is Breakdown Of Critical Areas of The 2024 Budget Presented By Tinubu
There is now a two-week timeframe for the committees in charge of overseeing the budget to wrap up the budget defence procedure.
The 2024 budget plan was given to the parliamentarians by Bola Ahmed Tinubu on Wednesday during a joint National Assembly session in Abuja.
Speaking to the assembly, Tinubu emphasised the need for careful consideration and “conclude with reasonable dispatch” while pleading with the legislative branch’s two houses to work hard on the budget.
The “Budget of Renewed Hope,” which is the budget for 2024, projects spending of N27.5 trillion.
Tinubu expressed confidence in the collaboration between the Executive and the National Assembly, stating, , “I am confident that the National Assembly will continue to work closely with us to ensure that deliberations on the 2024 Budget are thorough but also concluded with reasonable dispatch. Our goal is for the Appropriation Act to come into effect on the 1st of January 2024.”
When Tinubu Will Present 2024 Budget To National Assembly Revealed
He emphasised that among other goals, the budget’s emphasis is on attaining macroeconomic stability, decreasing poverty, and improving access to social security.
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