On July 23, the House of Representatives amended the 2024 appropriation bill, increasing the budget from N28.777 trillion to N35.055 trillion. This decision followed the consideration of a report by the House Committee on Appropriation, which reviewed President Bola Tinubu's request for an additional N6.2 trillion as a supplementary budget.
The Chairman of the House Committee on Appropriation presented the committee's report, noting that both the House and the Senate agreed on the budget increase. The bill authorizes the issuance of N35.055 trillion from the Consolidated Revenue Fund of the Federation, reflecting the revised budget for the year.
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The amended budget allocates N1.742 trillion for Statutory Transfers, N8.270 trillion for Debt Service, N11.268 trillion for Recurrent (Non-Debt) Expenditure, and N13.773 trillion for the Development Fund for Capital Expenditure. These allocations are set to cover the fiscal year ending on December 31, 2024.
