House of Representatives Approves N28.7 Trillion 2024 Budget, Over N1 Trillion Increase

In a significant development, the House of Representatives has given the green light to the 2024 Budget with a remarkable increase from President Bola Tinubu’s initial proposal. The approved budget now stands at N28.7 trillion, surpassing the President’s N27.5 trillion proposition. During a special session held on Saturday, lawmakers deliberated on the report presented by Abubakar Bichi, the Committee on Appropriations chairman, leading to the budget’s endorsement after thorough consideration. This increase marks a major adjustment and signals a significant shift in the country’s financial roadmap for the coming year. The development comes as a result of in-depth discussions and parliamentary consensus. The timeline for the President’s signature is paramount, as it must be obtained within the next 24 hours to ensure alignment with the January-December budget cycle, underscoring the importance of swift action in maintaining financial stability and continuity.