The Nigerian Senate has scheduled a plenary session for Saturday, December 30, to pass the 2024 Appropriation Bill. President Bola Ahmed Tinubu had presented the N27.5 trillion budget proposal to the joint session of the National Assembly in November, urging swift approval by the end of the year.
The budget outlines N18.324 trillion as the targeted revenue, with a deficit of N9.18 trillion to be financed through internal and external borrowings, as well as proceeds from privatisation.
The Senate had previously resolved to reconvene on Friday to facilitate the passage of the budget. The Clerk of the Senate, Chinedu Francis Akubueze, announced the rescheduled plenary in a statement, stating that it had been “postponed to Saturday, December 30, 2023, by 10 a.m.” This decision aligns with the House of Representatives, which also set the same date for passing the budget.
Senator Opeyemi Bamidele, the Senate Leader, emphasised the National Assembly’s commitment to passing the 2024 appropriation bill on December 30 to maintain the January-December budget cycle. He stated, “We are reconvening on December 29. Our hopes and determination are 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 named the budget “Budget of Renewed Hope,” emphasising its focus on achieving macroeconomic stability, poverty reduction, and increased access to social security, among other objectives.