JUST IN: PRES. TINUBU TO PRESENT 2024 BUDGET ON WEDNESDAY

November 27, 2023November 27, 2023

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The 2024 budget will be presented by President Bola Tinubu before the National Assembly’s joint session on Wednesday.

Dr. Ali Barde Umoru, the National Assembly’s secretary of research and information, revealed this on Monday in the National Assembly.

He said this when he asked for a list of people who would be permitted entry into the chamber and verified the budget presentation to the media.

The 20224–2026 Medium Term Expenditure Framework and Fiscal Strategy Paper, which suggested N26.1tn as the total expenditure profile for the 2024 fiscal year, was forwarded by Tinubu to both chambers of the National Assembly three weeks before the budget presentation.

Following two weeks of interactive sessions with the heads of ministries, departments, and agencies regarding the revenue and expenditure projections provided for them, the Senate, through its Finance Committee, adopted the MTEF.

It expressly accepted the N26.1 trillion budget for 2024 as well as other President-proposed guidelines.

Additionally, it authorised N7.8 trillion in fresh borrowings, fixed the benchmark oil price for 2024 at $73.96, and set the daily oil output volume at 1.78 million barrels.