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.
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The 2023 supplementary budget worth N2.17 trillion was passed by the Senate after the report of the harmonised 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 amid huge debt profile.
SaharaReporters earlier reported that the Senate had approved $7.8 billion and another €100 million borrowing plan as requested by President Tinubu.
The president made the request through a letter to the Senate, read during the plenary by the Senate President, Godswill Akpabio.
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In August, the National Assembly approved President Tinubu’s request for over $800 million loan to finance the National Social Safety Network Programme.
It should also be recalled that in January, former President Muhammadu Buhari signed the 2023 Appropriation Bill of N21.83trillion into law.
SAHARA REPORTERS