{"id":303550,"date":"2023-12-30T16:53:35","date_gmt":"2023-12-30T15:53:35","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=303550"},"modified":"2023-12-30T16:53:35","modified_gmt":"2023-12-30T15:53:35","slug":"just-in-senate-passes-2024-budget-increases-it-by-over-n1trn","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2023\/12\/30\/just-in-senate-passes-2024-budget-increases-it-by-over-n1trn\/","title":{"rendered":"JUST-IN: Senate Passes 2024 Budget, Increases It By Over N1trn"},"content":{"rendered":"<ul>\n<li><strong>President Bola Tinubu, on November 29, presented a total of N27.5tn budget proposal to a joint session of the National Assembly.<\/strong><\/li>\n<li><strong>The President pegged the budget deficit for the 2024 fiscal year at N9.18 tn.<\/strong><\/li>\n<\/ul>\n<hr \/>\n<p>The 2024 budget was raised from N27.5 trillion to N28.7 trillion by the 10th Senate, a total of N1.2 trillion.<\/p>\n<p>The Appropriations Committee, chaired by Senator Solomon Adeola, filed a report that had the following figures: GDP at 3.88%; statutory transfers at N1,742,786,788,150; recurrent expenditures at N8,768.5330,852; capital expenditures at N9,995,143,298,028; and aggregate expenditures at N28,777,404.073.861.<\/p>\n<p>On November 29, <a href=\"https:\/\/www.withinnigeria.com\/news\/2023\/10\/22\/bola-ahmed-tinubu-seeks-enhanced-south-korean-investment-in-national-transportation-system-development\/\">President Bola Tinubu<\/a> gave a joint session of the National Assembly a budget proposal totaling N27.5 trillion.<\/p>\n<p>The <a href=\"https:\/\/www.withinnigeria.com\/news\/2023\/12\/30\/pdp-slams-president-tinubu-for-withholding-workers-december-salary\/\">President<\/a> pegged the budget deficit for the 2024 fiscal year at N9.18 tn.<\/p>\n<p>He said the deficit represents 3.88 per cent of Nigeria\u2019s gross domestic product<\/p>\n<p>Tinubu stated, \u201cThe N9.18 trillion deficit is lower than the N13.78 trillion deficit recorded in 2023 which represents 6.11 per cent of GDP.<\/p>\n<p>\u201cThe deficit will be financed by new borrowings totalling N7.83tn, N298.49BN from Privatisation Proceeds and N1.05 trillion drawdown on multilateral and bilateral loans secured for specific development projects.\u201d<\/p>\n<p>It had earlier reported that the National Assembly will pass the budget today, Saturday.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Bola Tinubu, on November 29, presented a total of N27.5tn budget proposal to a joint session of the National Assembly. The President pegged the budget deficit for the 2024 fiscal year at N9.18 tn. The 2024 budget was raised from N27.5 trillion to N28.7 trillion by the 10th Senate, a total of N1.2 trillion. [&hellip;]<\/p>\n","protected":false},"author":43,"featured_media":303527,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"","via_url":"","override_template":"0","override":[{"template":"2","single_blog_custom":"211693","parallax":"1","fullscreen":"1","layout":"right-sidebar","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"top","share_float_style":"share-monocrhome","show_share_counter":"1","show_view_counter":"0","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"1","post_reading_time_wpm":"300","show_zoom_button":"1","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"0","show_prev_next_post":"0","show_popup_post":"0","number_popup_post":"1","show_author_box":"0","show_post_related":"0","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_override_bookmark_settings":{"override_bookmark_button":"0","override_show_bookmark_button":"0"},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[5,4],"tags":[49165,5786,74655,16,74656,588,74657,28],"class_list":["post-303550","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","category-politics","tag-budget-proposal","tag-gdp","tag-joint-session","tag-national-assembly","tag-nigerias-gross-domestic-product","tag-senate","tag-senate-increases-2024-budget-by-n1-2tn","tag-tinubu"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>JUST-IN: Senate Passes 2024 Budget, Increases It By Over N1trn<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2023\/12\/30\/just-in-senate-passes-2024-budget-increases-it-by-over-n1trn\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JUST-IN: Senate Passes 2024 Budget, Increases It By Over N1trn\" \/>\n<meta property=\"og:description\" content=\"President Bola Tinubu, on November 29, presented a total of N27.5tn budget proposal to a joint session of the National Assembly. 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