National Telescope national telescope newspaper
By Deborah Odekola |
The National Assembly has approved a total of N28.78trn expenditure for the 2024 fiscal year during its session on Saturday.
The sum had an increase of N1.2trn more than the N27.5trn budgetary proposal presented to the joint session of the Assembly by President Bola Tinubu on November 30, 2023
A breakdown of the approved sum showed that a total of N1.74trn is for statutory transfers; N8.27trn for debt service; N8.78 trn for recurrent (non-debt) expenditure while N10bn is for capital expenditure for the year ending 31st December, 2024.
In the approved appropriation bill, the Senate was allocated the sum of N49.14bn while the House of Rep got a total allocation of N78.62bn. While the National Assembly Service Commission, a body charged with the bureaucracy of the federal parliament got a total allocation of N12.33bn.
