Home » BREAKING: Reps pass amended 2024 budget of N35.055trn

BREAKING: Reps pass amended 2024 budget of N35.055trn

by John Ojewale
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The House of Representatives has passed a bill through the third reading that seeks to boost the 2024 Appropriation budget from N28.7 trillion to N35.055 trillion.

The bill was passed during the Committee of Supply’s examination and acceptance of Clauses 1-13, as proposed by the House Committee on Appropriations.

A breakdown of the proposed N35,055,536,770,218 for the 2024 fiscal year revealed that N1,742,786,788,150 is for Statutory Transfers; N8,270,960,606,831 is for Debt Service; N11,268,513,380,853 is for Recurrent Expenditure; and N13,773,275,994,384 is for contribution to the Development Fund for Capital Expenditure for the fiscal year ending December 31, 2024.

In his lead debate, Abubakar Bichi, who delivered the harmonised joint Senate and House report, asked for the budget to be approved.

Bichi said:

“As you can see, today we have passed 6.2 trillion by Mr President, budget of renewed hope, 3.2 trillion capital, while about 3 trillion will go to the current. And as I said last time, this is a very important and critical road infrastructure that Mr. President wants to actualize.

“You know, they have covered about 21 states. One section with Lagos-Calabar, as you are all aware, covers about 9 states, which is about 700-kilometer road projects. Also, Sokoto-Badagry is very critical and important, it covers about 6 to 7 states. And that project is also important, it’s covered about 1,000 kilometres. We have another one all the way from Ebonyi, all the way from Abuja, from the Trans-Saharan section. Now it’s about a 400-kilometer road project.

“Of course, we need some funding to execute this kind of important project. It also has these rail lines, which are all the way from Abuja, Katsina, Kaduna to Kano, and from Katsina to Maradi. All of these critical projects, Mr. President wants to actualize it. They are called legacy projects. That’s why we are calling a renewed hope budget.”

 

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cc: Daily Post Ng

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