President Bola Tinubu has announced plans to submit the 2024 Supplementary Budget to the National Assembly (NASS) soon.
Addressing a joint sitting of the National Assembly on Wednesday, Tinubu commended the legislature’s swift passage of the previous budget.
He said:
“I submitted the last budget to you, and you expeditiously passed it. We are walking the talk. I will soon bring the Year 2024 (Supplementary) Appropriation Bill. That is just for your information.”
Senate President Godswill Akpabio responded, “Thank you, Mr President, we will be expecting the Supplementary Appropriation Bill of 2024 as soon as possible.”
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During the joint sitting, which marked the 25th anniversary of Nigeria’s 4th Republic and the first anniversary of the Tinubu administration, the President also confirmed the adoption of “Nigeria, We Hail Thee” as the new national anthem.
He stressed the importance of collaboration and self-reliance, stating, “No foreign aid will fix Nigeria. We must work together to build our nation, not just for ourselves but for future generations.”
Recall that the President had earlier signed the N28.7 trillion 2024 Appropriation Bill into law on January 1, 2024, which was N1.2 trillion higher than the originally proposed budget.
The 2024 budget was based on an oil price of $77.96 and a daily oil production estimate of 1.78 million barrels per day, with the naira pegged at N750/$1.
However, the currency has since experienced great fluctuations, currently exchanging at around N1500/$1.
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