A letter notifying both chambers of the National Assembly of the event is expected to be read in plenary by both presiding officers, Senator Godswill Akpabio, and Hon. Tajudeen Abbas, on Tuesday.
Deborah Hassan
President Bola Tinubu is expected to present the 2024 budget to a joint session of the National Assembly on Wednesday.
This is according to the Secretary of the Research and Information Unit at the National Assembly, Dr Ali Umoru.
A letter notifying both chambers of the National Assembly of the event is expected to be read in plenary by both presiding officers, Senator Godswill Akpabio, and Hon. Tajudeen Abbas, on Tuesday.
President Tinubu had forwarded the 2024 – 2026 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) wherein he proposed an expenditure of N26.1 trillion for the 2024 fiscal year to the legislature.
The Senate Committee of Finance approved the MTEF after consultation with stakeholders, retaining the N26.1 trillion as proposed, the new borrowings of N7.8 trillion, pegging the oil price benchmark for 2024 at $73.96 and oil production at 1.78 million barrels per day.
Other parameters approved are GDP growth rate of 3.76%, inflation rate of 21.40%, suggested benchmark exchange rate at N700 to $1dollar and projected budget deficit of N9.04 trillion.