MDAs promised increased revenue to fund 2024 budget: Reps

The Chairman House of Representatives Committee on Appropriation, Abubakar Bitchi, said ministries, departments and agencies have pledged to increase their revenue-base in the 2024 fiscal year to fund the budget.
Mr Bitchi said this after the House approved the 2024 Budget proposal presented before the joint session of the National Assembly by President Bola Tinubu on November 29.
Mr Tinubu had presented a budget proposal of N27.5 trillion before the lawmakers, while the lawmakers on December 30 approved a total of N28.777 trillion, which was an addition of N1.2 trillion.
Mr Bichi, however, explained that the rationale behind the increase was because revenue-generating agencies pledged a substantial revenue increase in 2024 to support the budget.
“We had a meeting with the GOEs, we believe that their submissions are not enough. They have agreed to increase their revenue. That is how we are able to get that N1.2 trillion which we applied to capital,” Mr Bichi stated.
Mr Bichi said the budget increase in the appropriation bill was allocated to the capital component rather than recurrent expenditure.
“This is the first time the capital component is bigger than recurrent and I believe this budget is brilliant and Nigerians will see a lot of impacts,” he said.
Mr Bichi said a one-day town hall meeting was held where citizens made contributions into the 2024 appropriation bill.
He added that the joint NASS committee on appropriations worked closely with the executive on the budget.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette

Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices

Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”

Hot news Home top
Edo assembly approves death sentence for kidnappers
The lawmakers amended the existing law 2013, which recommended life imprisonment and confiscation of property linked to kidnapping.

NationWide
NSA hands over 59 rescued kidnap victims to Kaduna govt
Mr Ribadu commended the security forces led by the 1 Division of the Nigerian Army.

World
Putin considers peace talks with Ukrainian president
Mr Zelensky recently said that he was willing to talk to Mr Putin.

NationWide
789 ex-terrorists undergoing de-radicalisation, rehabilitation and reintegration: CDS
The CDS stated that more than 120,000 insurgents and their families had surrendered since the inception of the programme.

States
Police arraign electrician over alleged theft of water pumping machine
Mr Osho said that the defendant conspired with a scavenger, and stole his water pumping machine, valued N850,000.

States
Police say six died in Osun LG crisis, sue for peace
Ms Opalola said that several people also sustained injuries during the crisis.