VANGUARD
The National Assembly, NASS, yesterday, passed the N28,777,404,073,861 2024Appropriation Bill as the aggregate expenditure for the 2024 fiscal year.
The fiscal plan increased by N1.2 trillion from the initial N27.5 trillion to N28,777 trillion.
There was also an increase in the exchange rate from N750 to N800 per dollar while the 1.78mbpd daily oil production, US$77.96 oil benchmark price and GDP growth rate of 3.88 percent were approved as proposed by the executive arm of government.
President Bola Tinubu had presented before the NASS a total aggregate expenditure of N27.5 trillion to a joint session of the Senate and House of Representatives.
The President had announced his administration’s resolve to adopt the “Revised 2024-2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP)” as the parameters for the 2024 budget, just as he also announced the administration’s plan to grow the economy by a minimum of 3.76 percent, above the forecasted world average…
