President Bola Tinubu has written the House of Representatives for the approval of $8.6bn, and €100m external borrowing plan.
The $8.6bn, and €100m Tinubu said is for critical infrastructure of power, roads, water, railway, and health.
Tinubu has also sent the Federal Capital Territory Supplementary Budget to the Green Chamber for review.
He is set to present the 2024 budget to the National Assembly on Wednesday.
The 2024 budget presentation comes after the Federal Executive Council (FEC) approved a budget of N27.5 trillion.
The approval was made following the review of the Medium-Term Expenditure Framework (MTEF) which had been previously passed by the National Assembly.
The MTEF set the exchange rate at N700 to $1 and the crude oil price at $73.96 per barrel.
However, FEC revised both MTEF and the Fiscal Policy, setting the exchange rate at N750 to $1 and the crude oil reference price at $77.96 per barrel.
Furthermore, FEC approved an Appropriation Bill for 2024, with an aggregate expenditure of N27.5 trillion, representing an increase of over N1.5 trillion from the previous estimate.
