The Senate, at the plenary on Saturday, approved ₦28.7 trillion as the 2024 appropriation bill.
According to the report submitted by the Appropriation Committee led by Senator Solomon Adeola, aggregate expenditure was pegged at ₦28,777,404.073.861; statutory transfers -₦1,742,786,788,150; recurrent expenditure- ₦8,768.5330,852; capital expenditure- ₦9,995,143,298,028 and GDP at 3.88%.
President Bola Tinubu, on November 29, presented a total of ₦27.5tn budget proposal to a joint session of the National Assembly.
The President pegged the budget deficit for the 2024 fiscal year at ₦9.18 trillion.
He said the deficit represents 3.88 percent of Nigeria’s gross domestic product.
