On January 1, President Bola Tinubu signed the 2024 Appropriation Bill into law at the Presidential Villa in Abuja. Tinubu granted approval to the N28.7 trillion budget upon his arrival from a week-long holiday in Lagos. The budget, increased by N1.2 trillion from the initial proposal presented to the National Assembly on November 29, 2023, was adjusted by the Senate on December 29, 2023.
The Appropriation Committee, headed by Senator Solomon Adeola, outlined the budget details, with aggregate expenditure set at N28,777,404,073,861. Statutory transfers amounted to N1,742,786,788,150, recurrent expenditure at N8,768,533,030,852, capital expenditure at N9,995,143,298,028, and GDP projected at 3.88%.
Present during the signing were key figures such as the President of the Senate, Senator Godswill Akpabio, and the Speaker of the House of Representatives, Hon Tajudeen Abbas. Also in attendance were the Minister of Finance and Coordinating Minister of the Economy, Wale Edun; Minister of Budget and Economic Planning, Atiku Abubakar; and the National Security Adviser (NSA), Nuhu Ribadu.
Other notable personalities present included the Chief of Staff to the President, Femi Gbajabiamila; the National Chairman of the ruling All Progressives Congress (APC), Abdullahi Ganduje; and Chairman of the Senate Appropriation Committee, Senator Olamilekan Adeola.
