JUST IN: Reps amend finance bill, raises 2024 budget to N35.055tn

JUST IN: Reps amend finance bill, raises 2024 budget to N35.055tn

The House of Representatives on Tuesday, July 23, amended the 2024 appropriation bill to increase the 2024 budget from N28. 777 trillion to N35.055 trillion.

This followed the consideration of the report of the House Committee on Appropriation which considered the request from the President for about N6.2 trillion as supplementary budget.

Chairman of the House Committee on Appropriation, who presented the report of the committee for consideration, said both the House and the Senate agreed on the increase.

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The House considered the report of the Committee on Appropriations on a Bill for an Act to Amend the Appropriations Act, 2024.

The bill authorises the issuance of N35,055,536,770,218 (thirty-five trillion, fifty-five billion, five hundred and thirty-six million, seven hundred and seventy thousand, two hundred and eighteen Naira) from the Consolidated Revenue Fund of the Federation.

Out of this amount, N1.742 trillion is allocated for Statutory Transfers, N8.270 trillion for Debt Service, N11.268 trillion for Recurrent (Non-Debt) Expenditure, and N13.773 trillion for the Development Fund for Capital Expenditure for the year ending December 31, 2024.

JUST IN: Reps amend finance bill, raises 2024 budget to N35.055tn