Tinubu signs 2024 budget into law

President Bola Tinubu has signed the 2024 appropriation bill into law in keeping with his avowed commitment to maintaining a timeous, predictable, and efficient budget cycle.
Mr Tinubu assented to the bill at the State House, on Monday, shortly after returning to Abuja from Lagos.
Speaking at the signing of the bill, the President assured Nigerians that the implementation of the budget would be efficiently pursued and vigorously monitored, adding: “All the institutional mechanisms shall be held to account in ensuring diligent implementation”.
“All MDA’s have been directed to take responsibility and provide monthly Budget Performance Reports to the Ministry of Budget and Economic Planning, which in turn shall ensure the veracity of such. The Minister of Finance and Co-ordinating Minister of the Economy shall hold regular reviews with the Economic Management Team and, in addition, I shall Chair periodic Economic Coordination Council meetings,” he said.
The top priorities of the 2024 budget of N28.7 trillion are defence and internal security, job creation, macro-economic stability, improved investment environment, human capital development, poverty reduction, and social security.
The President emphasised that his commitment to enhance investment promotion while creating a rules-based society that favours no individual over the law begins with important reforms in the Nigerian judiciary, the funding for which is captured in the 2024 Appropriation Act.
“Funding the judiciary is a major element in our effort to support a just, rules-based society. Statutory transfer to the Judiciary has been increased from 165 billion naira to 342 billion naira,” the President said.
Some of the key estimates are capital expenditure, N10 trillion; recurrent expenditure, N8.8 trillion; debt service, N8.2 trillion, and statutory transfers, N1.7 trillion.
President of the Senate, Godswill Akpabio, and Speaker of the House of Representatives, Tajudeen Abbas, were present at the signing.
Other senior government officials present at the brief ceremony include: minister of finance and coordinating minister of the economy, Wale Edun; chief of staff to the President, Femi Gbajabiamila; minister of budget and economic planning, Senator Atiku Bagudu, and National Security Adviser, Nuhu Ribadu.
Chief Ajuri Ngelale
Special Adviser to the President
(Media & Publicity)
January 1, 2024
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
Officers who wait for orders to kill terrorists will be treated as bandits: Defence Minister
Defence Minister Christopher Musa says security personnel do not need to wait for an order before engaging armed bandits or terrorists.

Heading 3
Reps urge Tinubu to act as Nigerians paid N2.23 trillion ransom to kidnappers
The House emphasised the need to strengthen financial intelligence and collaboration among relevant security.
![Nigerian Upstream Petroleum Regulatory Commission [NUPRC]](https://gazettengr.com/wp-content/uploads/NUPRC.png)
NationWide
2024 Bid Round: NUPRC hands petroleum prospecting licences to 12 firms
NUPRC said the exercise marked another milestone in efforts to attract fresh investment into the upstream petroleum industry.

Hot news Home top
ADC bars state chapters from receiving court processes, engaging lawyers
Mr Abdullahi said the party received reports that court processes relating to the ADC were being served on state chapters across the country.

Heading 4
NiMet predicts three-day cloudy, rainy atmosphere from Thursday
According to NiMet, strong winds may precede rain in areas where thunderstorms are likely.

Heading 1
Stop guessing Nigeria’s population, UN tells FG
Ms Mafico reaffirmed UNFPA’s support for Nigeria’s next population and housing census.





