The 2024 budget will be passed on Saturday, December 30, the Speaker of, the House of
Representatives, Tajudeen Abbas said on Tuesday.
Honorable Abbas, made this disclosure during the plenary session following the resumption of the
green chamber after a brief recess to allow committees to scrutinise the budget estimates submitted by
President Bola Tinubu.
The Speaker however did not reveal the figure finally agreed on as it will still harmonise its position with
President Tinubu presented a budget of N27.5 trillion to a joint section of the National Assembly on
November 29 in Abuja.
The President pegged the budget deficit for the 2024 fiscal year at N9.18tn and explained that the deficit
represented 3.88 per cent of Nigeria’s gross domestic product.
“The N9.18tn deficit is lower than the N13.78tn deficit recorded in 2023 which represents 6.11 per cent
“The deficit will be financed by new borrowings totaling N7.83 trillion, N298.49 billion from
privatization proceeds and N1.05 trillion drawdown on multilateral and bilateral loans secured for
specific development projects,” Tinubu had stated.