PRESIDENT TINUBU ASSENTS TO A BUDGET OF 28.78 TRILLION NAIRA FOR THIS YEAR INTO LAW 01-01-24
By Sadiq Aminu President Bola Tinubu has assented to a budget 28.78 trillion Naira for this year into law.
The President initially presented 27.5 trillion Naira to the joint session of the National Assembly for consideration.
After legislature action the President’s initial proposal, the National Assembly increased the budget to 28.5 trillion Naira, signifying an increase of 1.2 trillion Naira.
While giving reasons for the increase in the budget, the Chairman, House Committee on Appropriation, Alhaji Abubakar Bichi, said the increment was propelled by revenue prospects from Government Owned Enterprises and possible inflation.
He explained that after careful study of the initial proposal, the National Assembly noted that the Executive’s pegging of 750 Naira to the dollar was not realistic and therefore re-pegged it 800 Naira to the dollar.