Tinubu seeks NASS approval for additional N6.2 trillion in 2024 Appropriation

Kunle Sanni

President Bola Tinubu has requested a N6.2 trillion increase to the 2024 Appropriation Act from the National Assembly.

The request was contained in a letter read by Senate President Godswill Akpabio on the Senate floor on Wednesday. 

If approved, the proposed increase would raise the 2024 budget from the initial N28.7 trillion, signed into law on January 1, to N34.9 trillion. 

The amendment to the budget aims to allocate N3.2 trillion for infrastructure projects and an additional N3 trillion for recurrent expenditure.

The 2024 appropriation bill was approved by the National Assembly in December, with President Tinubu’s original proposal of N27.5 trillion increased to N28.7 trillion.

To provide N3.2 trillion for infrastructure projects and an extra N3 trillion for ongoing expenses, the President is requesting a modification to the budget.

“Pursuant to section 58 (2) of the constitution of the Federal Republic of Nigeria as amended, I forward herewith the above-named bills for consideration and passage by the senate,” Tinubu said.

“The appropriation act amendment bill seeks to amend the principal act to provide the sum of N3,200,000,000,000 for Renewed Hope Infrastructure Projects and other critical infrastructure projects to be undertaken across the country and the sum of N3,000,000,000,000 to meet further recurrent expenditure requirements necessary for the proper operation of the federal government

“They shall be funded by accruing to the federal government of Nigeria.”