Reps Passes N28.77 Trillion Budget After N1.2 Trillion Increase for 2024

The House of Representatives on Saturday, December 30, increased the 2024 budget presented by President Bola Tinubu by about N1. 2 trillion. 

The lawmakers, who held a special session to pass the budget increased the estimate from N27.5 trillion presented by the president to about N28.77 trillion. 

The report from the House Committee on Appropriation was laid before the House at plenary on Saturday by the Chairman of the House Committee on Appropriation, Hon. Abubakar Kabir Bichi. 

According to the report, N8,768,513,380,852 is for Recurrent (Non-Debt) Expenditure while the sum of N9,995,143,298,028 will be for capital projects. 

Capital budget which was pegged at N8. 7 trillion in the budget presented by the President to the Assembly was increased to N9. 995 trillion, while recurrent budget was reduced from N9. 92 trillion to N8. 76 trillion. 

Debt servicing got N8,270 trillion while statutory Transfers got N1,trillio742 trillion.