The Nigerian Senate, will on Saturday, hold a plenary to pass the 2024 Appropriation Bill.
During the submission of the N27.5 trillion budget proposal to the joint session of the National Assembly in November, President Bola Ahmed Tinubu had urged the lawmakers to ensure its approval before the end of the year.
N18.324 trillion is set as targeted revenue while N9.18 trillion is deficit to be financed by internal and external borrowings as well as proceeds from privatization.
The Red Chamber had resolved last week to resume sitting on Friday to pass the budget.
Clerk of the Senate, Chinedu Francis Akubueze, in a statement, informed members that the plenary had been “postponed to Saturday, December 30, 2023, by 10.00 am.”
According to Akubueze “The Senate is resuming to achieve unanimity with the House of Representatives, which had also fixed the same date for passage of the budget”.
Senate Leader, Senator Opeyemi Bamidele, told journalists that the National Assembly would pass the 2024 appropriation bill on December 30 to sustain the January-December budget cycle.
“We are reconvening on December 29. Our hope and determination is to pass by December 30. On January 1, 2024, Mr President will have the 2024 appropriation bill at his desk for assent so that its implementation can take off in earnest.”
President Tinubu said the budget tagged ‘Budget Of Renewed Hope’ will ensure macro-economic stability, poverty reduction, and greater access to social security, amongst others.
Emmanuel Ukoh
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