NATIONAL ASSEMBLY SET TO RECEIVE 2024 APPROPRIATION BILL
All is set to receive the first
Appropriation Bill of the President Bola Ahmed Tinubu led administration on
Wednesday, November 29, 2013. The 2024 Annual Estimates of Nigeria is scheduled
to be laid before the nation’s highest legislative institution joint session.
The Money Bill which is one of the
unique legislative/executive fiscal strategy ritual holds annually in the
National Assembly. It entails projected revenues and expenditures of the
country in the forthcoming year. It is expected to be presented by President
Tinubu.
High expectations of Nigerians on the
2024 budget cannot be under estimated in view of the daunting challenges the
country is faced with, couple with fact that it is the first of its kind by this
government. Hence the need for synergy between the Legislative and Executive
arms of government in addressing the myriad of hiccups in administering and
developing the nation.
Highlights of the 2024 Appropriation
Bill include a projected of N27.5 trillion Naira total budget for the nation,
with a targeted total revenue of N18.32 trillion Naira and a targeted total budget
deficit of N9.1 trillion Naira.
It would be recall that the National
Assembly last week passed into law the 2024 – 2026 Medium Term Expenditure
Framework (MTEF) and Fiscal Strategy Paper (FSP) which is a prelude to the
presentation and the laying of the 2024 Appropriation Bill before the Joint
Session of Nigeria’s Parliament.
The 2024 budget, coming a month to
the end of the year would place the legislators in a very tight corner and
expose them to a very rigorous task, if they have meet up with the January to
December normal budget circle because it came late.