….Update: NASS hikes Tinubu’s budget by ₦1.27trn
The National Assembly (NASS), on Saturday, passed the 2024 budget of ₦28.77 trillion, thereby increasing the appropriation figure by ₦1.2 trillion against President Bola Tinubu’s presentation of ₦27.5 trillion.
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At the House of Representatives, the committee chairman on appropriation, Abubakar Bichi, laid the report before the House at plenary on Saturday.
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According to the report, ₦8,768,513,380,852 is for Recurrent (Non-Debt) Expenditure while the sum of ₦9,995,143,298,028 will be for capital projects.
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Capital budget, which was pegged at ₦8.7 trillion in the budget presented by the President to the Assembly was
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increased to ₦9. 995 trillion, while recurrent budget was reduced from ₦9.92 trillion to ₦8.76 trillion.
Debt servicing got ₦8,270 trillion while statutory Transfers got ₦1,742 trillion.
….Update: NASS hikes Tinubu’s budget by ₦1.27trn
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