The House of Representatives, in a special session, has increased the 2024 budget presented by President Bola Tinubu by approximately N1.2 trillion.
The initial estimate of N27.5 trillion was raised to about N28.77 trillion during the session.
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The House Committee on Appropriation, chaired by Hon. Abubakar Kabir Bichi, laid the report before the House at the plenary.
2024 Budget
The revised budget allocates N8,768,513,380,852 for Recurrent (Non-Debt) Expenditure, and N9,995,143,298,028 for capital projects.
Notably, the capital budget, initially at N8.7 trillion, was increased to N9.995 trillion, while the recurrent budget was adjusted from N9.92 trillion to N8.76 trillion. Debt servicing received N8.27 trillion, and statutory transfers were allocated N1.742 trillion.
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Before the budget’s passage, the Speaker emphasized a commitment to citizen involvement in key processes, announcing plans to take future budgets to the constituency levels.
This move aims to allow citizens, particularly those at the grassroots, to contribute their insights and shape the budget to better address the specific needs of all Nigerians.
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The House remains dedicated to an open and inclusive lawmaking process, demonstrated by organizing a citizens’ town hall on the 2024 Appropriation Bill.
