President Tinubu Signs 2024 Budget Of N28.78tn Into Law
Determined to kick start the implementation of the 2024 Appropriation Act in earnest, President Bola Tinubu on Monday, January 1, 2024, signed this year’s Budget of N28.78 trillion into law at the Presidential Villa, Abuja.
President Tinubu, who arrived his office at the Presidential Villa, Abuja straight from the Azikiwe International Airport at about 2pm, went for the brief budget signing ceremony and appended his signature on the 2024 Appropriation Bill passed by the National Assembly.
He was surrounded at the signing ceremony by some top government officials that included the President of the Senate, Godswill Akpabio, Speaker of the House of Representatives, Hon Tajudeen Abbas, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun and the Minister of Budget and Economic Planning, Senator Atiku Bagudu.
Others were the National Security Adviser (NSA), Mallam Nuhu Ribadu, the Chief of Staff to the President, Hon Femi Gbajabiamila, the National Chairman of the All Progressives Congress (APC), Dr Abdullahi Ganduje, and the Chairman of the Senate Committee on Appropriation, Senator Olamilekan Adeola, among others.
The signing of the budget was a significant event for the Nigerian government, as it signals the start of the new fiscal year. The 2024 budget is the largest in the country’s history, and it includes funding for a number of key initiatives, such as infrastructure development, education, and healthcare.
“This budget is a testament to our commitment to building a better future for all Nigerians,” President Tinubu said in a speech after signing the budget. “We are investing in the critical areas that will drive economic growth and create jobs. We are also investing in social programs that will improve the lives of our people.”
The passage of the budget was not without its challenges. There was some debate in the National Assembly about the level of spending, and some lawmakers expressed concerns about the government’s ability to meet its revenue targets. However, the budget was eventually passed with overwhelming support from both chambers of the legislature.
The signing of the budget is a positive step for Nigeria, and it is hoped that the government will be able to effectively implement its spending plans. The success of the 2024 budget will be critical to the country’s economic recovery and long-term development.