President Bola Tinubu will on Wednesday present the 2024 budget to joint session of the National Assembly. This was made known by the Secretary, of Research and Information at the National Assembly, Dr Ali Barde Umoru, in the National Assembly on Monday.
He stated this while confirming the budget presentation to journalists and requesting a list of those to be allowed into the chamber. Ahead of the budget presentation, Tinubu had three weeks ago, forwarded to both chambers of the National Assembly, the 20224 – 2026 Medium Term Expenditure Framework and Fiscal Strategy Paper where the sum of N26.1trillion was proposed as the total expenditure profile for the 2024 fiscal year.
The Senate through its committee on Finance after two weeks of interactive sessions with heads of Ministries, Departments and Agencies on revenue and expenditure projections made for them, approved the MTEF. It specifically, approved the N26.1trillion proposed as 2024 budget and other parameters as proposed by the President. It also approved the new borrowings of N7.8trillion, pegs benchmark oil price for 2024 at $73.96 and oil production volume per day at 1.78million barrels.
