Renowned economist, Bismarck Rewane, has stated that Nigerians are not interested in budgetary figures rolled out by the President Bola Tinubu-led government if the prices of basic commodities like rice, bread, and garri don’t go down. Rewane, the Managing Director of Financial Derivatives Company Limited, made this known on Thursday during an interview on Channels TV.
Security has been beefed up at the National Assembly ahead of the presentation of the 2024 Appropriation Bill by President Bola Tinubu on Wednesday. Men of the Department of State Services deployed to man the entrance gates are restricting access to the complex. Security agents are deployed to ensure that only those with legitimate business at the National Assembly Complex are allowed in. SaharaReporters on Monday reported that President Bola Tinubu’s government approved N27trillion as the 2024 appropriation for the country.
The President Bola Tinubu-led administration has sought the approval of the Nigerian Senate for $8.6billion and €100million borrowing plan. The president made the request through a letter to the Senate, read during the plenary by the Senate President, GodsWill Akpabio, on Tuesday, noting that the fund was to execute critical projects in different sectors. The request was said to be part of the federal government 2022-2024 external borrowing plan approved by former President Muhammadu Buhari’s administration, according to the letter.
President Bola Tinubu’s government has approved N27trillion as the 2024 appropriation for the country. The Federal Executive Council (FEC) gave the approval on Monday at the weekly executive meeting presided over by the president. The 2024 appropriation would be the first yearly budget to be presented by President Bola Tinubu a few weeks after he presented the 2023 supplementary budget before the National Assembly.
President Bola Tinubu has signed the 2023 supplementary budget into law. Tinubu assented to the N2.17 trillion supplementary appropriation bill on Wednesday in Abuja. Last Thursday, the Nigerian Senate passed the 2023 Appropriation Bill after the third reading. The Senate passed the bill after the report of the harmonized sittings of the Senate and the House of Representatives was submitted by Senator Solomon Adeola, popularly known as Yayi, the Chairman of the Appropriations Committee.