Tinubu Seeks Senate’s Approval to increase 2024 budget by N6.2 trillion
President Bola Tinubu has asked the National Assembly to increase the 2024 budget by N6.2 trillion.
Senate President Godswill Akpabio read the President’s request on the Senate floor Wednesday, to raise the 2024 budget from the initial N28.7 trillion, signed into law on January 1, to N34.9 trillion.
The amendment is sought by Mr President to allocate N3.2 trillion for infrastructure projects and N3 trillion for recurrent expenditure.
“Pursuant to section 58 (2) of the constitution of the federal republic of Nigeria as amended, I forward herewith the above named bills for consideration and passage by the senate,” Tinubu said.
“The appropriation act amendment bill seeks to amend the principal act to provide the sum of N3,200,000,000,000 for Renewed Hope Infrastructure Projects and other critical infrastructure projects to be undertaken across the country and the sum of N3,000,000,000,000 to meet further recurrent expenditure requirements necessary for the proper operation of the federal government.
“They shall be funded by accruing to the federal government of Nigeria.”
