2024 Appropriation Bill Advances in House Amid Debates  - The Top Society

2024 Appropriation Bill Advances in House Amid Debates 


The 2024 appropriation bill presented by President Bola Tinubu has successfully passed the second reading in the House of Representatives after two days of intensive debate.

House of Reps Pushes N27.5 Trillion 2024 Budget to Second Reading   

Concerns were raised among lawmakers regarding the government’s reliance on heavy taxation for revenue, with fears expressed that it could have significant repercussions for importers. Additionally, skepticism surfaced over the feasibility of the proposed 1.7 million barrels per day of crude production.

President Tinubu, addressing a joint session of the National Assembly in Abuja, emphasized the urgency for both legislative arms to swiftly conclude their deliberations on the N27.5 trillion budget.

The President dubbed the budget as the ‘Budget of Renewed Hope,’ asserting its focus on achieving macroeconomic stability, poverty reduction, and enhanced access to social security.

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Tinubu said,

“I am confident that the National Assembly will continue to work closely with us to ensure that deliberations on the 2024 Budget are thorough but also concluded with reasonable dispatch. Our goal is for the Appropriation Act to come into effect on the 1st of January 2024.”

Committees are now granted a two-week window to finalize the budget defense process.

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