The House of Representatives on Saturday, December 30, increased the 2024 budget presented by President Bola Tinubu by about N1. 2 trillion.
The lawmakers, who held a special session to pass the budget increased the estimate from N27.5 trillion presented by the president to about N28.77 trillion.
The House Committee on Appropriation laid the budget before the House at plenary on Saturday by the Chairman of the House Committee on Appropriation, Hon. Abubakar Kabir Bichi.
N8,768,513,380,852 is for Recurrent (Non-Debt) Expenditure while the sum of N9,995,143,298,028 will be for capital projects.
Capital budget which was pegged at N8. 7 trillion in the budget presented by the President to the Assembly was increased to N9. 995 trillion, while recurrent budget was reduced from N9. 92 trillion to N8. 76 trillion.
Debt servicing got N8,270 trillion while statutory Transfers got N1,trillio742 trillion.
Speaking before the passage of the budget, the speaker said future budgets will be taken to the people at the constituency levels to allow them also to make inputs.
He said: “As representatives of the people, it is essential that we involve citizens in our key processes and decision-making. It is in line with this that the House organised a citizens’ town hall on the 2024 Appropriation Bill, where the public was given the opportunity to express views on how the budget can better address the specific needs of all Nigerians, especially those at the grassroots.
