The Nigerian Senate is slated to convene a plenary session on Saturday, December 30, 2023, to finalise the approval of the 2024 Appropriation Bill. The budget, presented by President Bola Ahmed Tinubu in November, amounts to N27.5 trillion, with the aim of securing swift endorsement before the year concludes.
President Tinubu’s proposed budget designates N18.324 trillion as the targeted revenue, featuring a deficit of N9.18 trillion to be covered through a combination of internal and external borrowings, as well as funds generated from privatisation initiatives.
In a previous resolution, the Senate had committed to reconvening on Friday, December 29, 2023, to expedite the budget’s passage. The Clerk of the Senate, Chinedu Francis Akubueze, communicated a shift in the plenary date to Saturday, December 30, 2023, at 10 a.m., aligning with the House of Representatives’ schedule for budget approval.
President Tinubu has labelled the budget as the “Budget of Renewed Hope,” underscoring its emphasis on achieving macroeconomic stability, poverty reduction, and enhanced access to social security, among other strategic objectives.