By Becky Usman

President Bola Tinubu has officially ratified the 2024 Budget, amounting to N28.7 trillion, following a brief signing ceremony at the Presidential Villa in Abuja on Monday.

The signing event was attended by dignitaries such as the President of the Senate, Senator Godswill Akpabio, and the Speaker of the House of Representatives, Hon. Tajudeen Abbas. Other key figures present included the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, Minister of Budget and Economic Planning, Atiku Bagudu, and National Security Adviser (NSA), Nuhu Ribadu.

Also in attendance were 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.

Tinubu endorsed the budget shortly after arriving in Abuja from a week-long holiday in Lagos. The signed 2024 budget exceeds the initially proposed amount by N1.2 trillion, as presented to the National Assembly on November 29, 2023.

On December 29, 2023, the Senate further increased the budget by N1.2 trillion, bringing the total to N28.7 trillion. The Appropriation Committee, led by Senator Solomon Adeola, submitted a report indicating aggregate expenditure at N28,777,404,073,861; statutory transfers at N1,742,786,788,150; recurrent expenditure at N8,768,5330,852; capital expenditure at N9,995,143,298,028; and GDP growth estimated at 3.88 percent.