The House of Representatives has passed the N27.5 trillion 2024 budget for its second reading.
The appropriations bill was passed on Thursday, fast-tracking the approval process.
House Leader Julius Ihonvbere led the debate on the general principles of the proposal. He commended Bola Tinubu for the proposed allocations, particularly highlighting the emphasis on national security and education.
Ihonvbere expressed optimism about the potential impact of it, stating, “Nigeria will be more secure with the allocation to defence and security.
As a teacher, I am impressed by the emphasis on basic education. I am sure that education will be better off this time.”
During his maiden presentation before the National Assembly on Wednesday, Tinubu outlined that the proposed N27.5 trillion 2024 budget aims to ensure micro-economic stability, poverty reduction, and greater access to social security.
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The budget captures areas such as security, local job creation, macro-economic stability, investment environment optimization, human capital development, poverty reduction, and social security.
The proposed budget includes recurrent non-debit expenditure of N9.92 trillion, capital expenditure of N8.73 trillion, and debt service of N8.25 trillion.