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 to meet up with the January to December normal budget circle because it came late.
