Sunday, June 14, 2026
FB X LI YT
Breaking
ABIOLA AND THE ANCIENT JOURNEY OF JUNE 12 – By Dare Babarinsa, CON Otunba Bimbo Ashiru, Group Chairman of Oodua Investment Company Limited, speaks at the Think Yoruba First 4th Global Conference. A proud moment for Yoruba land as he addresses the gathering on regional unity and progress. Representative from the DAWN Commission speaks at the Think Yoruba First 4th Global Conference, addressing the gathering on regional integration, collaboration with Think Yoruba First, and the future of Yoruba land in a multipolar world. The event was held in partnership with the DAWN Commission. Otunba Deji Osibogun, Convener of Yoruba Koya Leadership and Training Foundation, speaks at the Think Yoruba First 4th Global Conference. He addressed the gathering on leadership development, grassroots mobilisation, and the urgent need to build the next generation of Yoruba leaders. Oba Francis Olusola Alao, the Olugbon of Orile-Igbon Kingdom, speaks at the Think Yoruba First 4th Global Conference. The royal father spoke on the critical role of traditional institutions in securing the nation and praised Think Yoruba First for their tireless work in advancing the cause of Yoruba land, declaring that the movement is the future of Yoruba progress and unity. “No One Is More Qualified Than Me” – Senator Dickson Declares Obi Not Doing NDC Any Favour Caribbean Nation Opens Doors: Grenada Grants Nigerians Visa-Free Access, Seeks Direct Flights and Investment Economic Invasion, Physical and Psychological Warfare on Yoruba Land
NEWS

Senate Passes N28.7trillion 2024 Appropriation Bill

December 30, 2023 • 2 min read

The Senate has passed the N28.7trillion 2024 Appropriation Bill, increasing the budget from the N27.5trillion presented by President Bola Tinubu with about N1.2 trillion.

The passage of the bill, followed the approval of report of the Senate Committee on Appropriation at plenary on Saturday.

Presenting the report the committee Chairman, Sen.Solomon Adeola, said that the committee adopted the Medium Term Expenditure Framework and Fiscal Paper (MTEF/FSP) approved by National Assembly in preparing the budget.

He said the committee adopted the 77.96 dollar per barrel oil benchmark 1.78mbpd and 800 dollar exchange rate to naira as against 750 dollars proposed by the executive.

Adeola listed the highlights of the bill to include a total aggregate expenditure of N28.7trillon, statutory transfers of N1.7trillion,recurrent expenditure of N8.7 trillion,while the capital expenditure component stood at N9.9trillon.

He said the committee in processing the bill worked closely with the executive harmoniously.

The lawmaker said through the closely and harmonious appropriation process, the executive forwarded request for additional funding of some items on expenditure that were not included in the bill as submitted by the President.

He, however, said that the committee observed that the 2024 Appropriation Bill was presented to the National Assembly late.

This, according to Adeola, was against the Fiscal Responsibility Act that required the bill to be presented not later than three months before the next financial year.

Adeola also said there were inconsistencies in the revenue of some government-owned enterprises (GOEs).

He also said that there was removal of some agencies personnel costs from the Federal Government payroll and inadequate funding in some allocation of government ministries, departments and gencies (MDAs).

Adeola said to ensure thorough scrutiny of budget proposal, the executives should comply with the provisions of the Fiscal Responsibility Act.

He also urged the executive to ensure compliance with the provisions of relevant extant laws, as it concerns government agencies.

The lawmaker urged agencies removed from federal government budget to step up their revenue generation, fund itself and remit more to Consolidated Revenue Fund (CRF).

He also called for provision of additional funds to some MDAs not appropriately funded.

Adeola urged the executive to to sustain the increase on capital component over recurrent to ensure developmental programmes across the country.

Source: NAN