Tag: 2024 budget

  • 2024 Budget: Speaker Abbas has demonstrated passion for good governance

    2024 Budget: Speaker Abbas has demonstrated passion for good governance

    The Deputy Spokesman of the House of Representatives, Hon. (Dr) Philip Agbese, has said the leadership of the Speaker, Rt Hon. Tajudeen Abbas, has demonstrated exceptional passion for Nigerians and good governance.

    Agbese said the 10th House of Representatives has proven to be distinct from others with its relationship with the executive and the handling of the 2024 Appropriation Bill.

    Reacting to President Tinubu’s budget presentation to a joint session of the National Assembly on Wednesday, he noted that the Speaker has handled issues relating to the citizens’ welfare in a manner that has endeared him more to his colleagues and Nigerians at large.

    Agbese said under the leadership of Speaker Abbas, the House gave accelerated consideration to the supplementary appropriation bill due to the hardship in the nation.

    The Deputy Spokesman said Abbas made his priorities clear with his Legislative Agenda from his first day in office.

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    Agbese said unlike in the past when the two chambers engaged in avoidable confrontation over the budget, the process has been smooth so far.

    The Benue lawmaker further said this is due to Abbas’ maturity, integrity, and purpose-driven leadership which has resonated with the masses.

    Agbese, however, warned that in line with the Speaker’s Legislative Agenda, only Ministries, Departments, and Agencies that made judicious use of their resources this year will receive allocation in the 2024 budget.

    He said the era of rewarding mediocrity, negligence, and dereliction is now in the past.

    “I’m proud of the 10th House of Reps. I’m even more thrilled with the achievement of the leadership led by Rt Hon Tajudeen Abbas.

    “For the first time in a long while, we have gotten it right. The House of Representatives has a leadership that not only understands the job but is passionate about fellow citizens.

    “Today, we received Mr President who showed absolute faith in the Speaker and the 10th House, especially as it concerns synergy. The manner Speaker Abbas has coordinated affairs truly portrays a man who is in touch with reality and the common man.

    “Simple yet detailed, pragmatic and down-to-earth. Our Speaker exhumes friendship and progress. He has this beautiful way of communicating with his colleagues and the Presidency.

    “The 2024 Appropriation Bill was well received and will be looked into. One thing that I can assure Nigerians is that Speaker Abbas will thoroughly monitor the budget with speed.

    “We recall how the N5 billion for the controversial yacht was spotted in the supplementary budget and replaced by student loan. Expect such level of meticulousness in the 2024 budget,” he said.

  • JUST IN: Tight security at NASS as Tinubu presents 2024 budget

    JUST IN: Tight security at NASS as Tinubu presents 2024 budget

    There is heightened security presence at the National Assembly Complex as President Bola Tinubu gets ready to present the 2024 Appropriation Bill before a joint session of the Senate and House of Representatives by 11am today.

    Read Also: BREAKING: Tinubu writes Senate on presentation of 2024 budget

    It was observed that more armed policemen were drafted to the entrances to the complex which are Main (MOPOL) Gate, the Villa Gate and the Annex Gates of the National Assembly.

    Anyone without accreditation was not allowed through.

    The atmosphere had a solemn undertone as the usual hustle and bustle associated with the National Assembly was absent with the restriction of human and vehicular traffic.

    Details shortly..

  • Tinubu to present 2024 budget to NASS Wednesday

    Tinubu to present 2024 budget to NASS Wednesday

    Barring any change of plans, President Bola Tinubu is expected to present the 2024 appropriation bill (2024 budget) to a joint session of the National Assembly on Wednesday, November 29.

    While speaking at a retreat for chairmen and deputy chairmen of the House Standing Committee on Monday, November 27, the speaker of the House of Representatives, Hon. Tajudeen Abbas said that the budget will be presented in a few days.

    Read Also: President Tinubu chairs FEC meeting

    However, The Nation gathered that the presentation has been scheduled to be held on Wednesday.

    The House notice paper containing activities for plenary for the week seen by The Nation left Wednesday blank without any activity unlike Tuesday and Thursday.

    An official announcement to this effect is being expected from the leadership of the House.

    But when contacted, spokesman of the House, Hon. Akin Rotimi confirmed that the budget will be presented this week, but was silent on the date.

    He said: “It will be presented this week.”

  • BREAKING: FEC approves N27.5tn for 2024 Budget

    BREAKING: FEC approves N27.5tn for 2024 Budget

    The Federal Executive Council (FEC), on Monday, November 27, approved a sum of N27.5 trillion aggregate expenditure for the 2024 Appropriation Bill.

    Disclosing this to journalists after the FEC meeting presided over by President Bola Tinubu at the State House, Abuja, the Minister of Budget and Economic Planning, Alhaji Atiku Bagudu, also said the targeted revenue for next year is N18 trillion.

    According to him, further details of the budget will be released when President Tinubu makes his presentation of the budget to the National Assembly.

    Read Also: Tinubu will present 2024 budget to NASS in few days, says Speaker Abbas

    He further disclosed that the Medium Term Expenditure Framework (MTEF), which had been passed by the National Assembly, was further reviewed.

    Bagudu said: “The federal executive council considered the 2024 Appropriation bill. The MTEF was earlier approved by the National Assembly. It has an exchange rate of N700 to a dollar and a crude oil benchmark of $73.

    “To improve revenue, the council further reviewed the MTEF, with an exchange rate of N750 to a dollar, and a crude oil benchmark of $77. This will significantly improve revenue.”

    Details shortly…

  • ‘House will pass 2024 budget before year end’

    ‘House will pass 2024 budget before year end’

    The House of Representatives has promised to pass next year’s budget before the end of the year.

    It said this would enable the Federal Government to comply with the January to December implementation cycle. 

    Chairman of the House Committee on Appropriation, Abubakar Kabir Bichi, said the House would stand by established precedent of ensuring compliance with the Financial Year Act through budget passage on or before December 31 of each financial year. 

    The committee chairman said the development would make the budget implementation cycle operational and achievable. 

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    He said the Appropriation Committee was empowered by Order 20, Rule 15 of the House of Representatives Standing Orders, 10th Edition, 2020, as Amended, to coordinate, monitor, and supervise the implementation of all Appropriation Acts after passage by the National Assembly. 

    Bichi said this power would be effectively utilised to exercise oversight jurisdiction over relevant agencies, such as the Federal Ministry of Budget and Economic Planning, the Federal Ministry of Finance, Office of the Accountant General of the Federation, and the National Economic Intelligence Agency (NEIC), among others, to monitor the budget implementation. 

    The chairman said his committee would hold a strategic meeting with the Chairmen of Finance, National Planning and Aids, Loans and Debt Management, among others, to gather data for facilitating effective function of the committee.

    He also said the committee would hold pre-budget meetings with relevant MDAs to ensure a sustainable collaboration, especially with its sister committee in the Senate and other relevant stakeholders.

  • BREAKING: FG proposes N26trn as 2024 budget

    BREAKING: FG proposes N26trn as 2024 budget

    The federal government is proposing the sum of N26 trillion as the 2024 budget which will be submitted to the National Assembly before December 31.

    Read Also: Oyebanji presents N159.5b 2024 budget

    The minister of Budget and planning, Atiku Bagudu, announced the budget proposal at the end of the Federal Executive Council (FEC) meeting held on Monday, October 16, at the presidential villa, Abuja.