President Bola Tinubu has arrived at the National Assembly complex for the 2024 budget presentation.
The President got to the National Assembly at exactly 11:04 a.m. on Wednesday amid heavy security.
Armed policemen were drafted to the entrances to the complex, which are Main (MOPOL) Gate, the Villa Gate and the Annex Gates of the National Assembly
President Tinubu’s arrival at the National Assembly was a spectacle in itself. The convoy, flanked by security details, made its way through the tightly guarded gates, reflecting the seriousness with which the government approached this annual financial ritual. The President’s arrival not only marked the commencement of the budget presentation but also set the tone for the ensuing deliberations and discussions within the hallowed halls of the National Assembly.
The presence of President Tinubu at the National Assembly for the budget presentation has political ramifications. As the head of the executive branch, his appearance underscores the importance of the budget in shaping the country’s economic trajectory. It is a symbolic gesture, emphasizing the collaborative efforts between the executive and legislative arms of the government in steering the nation towards progress.
With the nation grappling with various economic challenges, the 2024 budget presentation carries the weight of public expectations. Citizens are eager to understand the government’s strategy for addressing pressing issues such as inflation, unemployment, and infrastructure development. President Tinubu’s address is not merely a routine announcement but a pivotal moment that will be scrutinized by citizens, analysts, and policymakers alike.
As the President steps up to the rostrum, all eyes are on the details of the budget. Key questions revolve around the allocation of funds to critical sectors such as healthcare, education, and security. The budgetary priorities will reflect the government’s commitment to addressing the immediate needs of the populace and fostering long-term economic growth.
The Federal Executive Council approved the 2024 Appropriation Bill of N27.5tn on Monday.
This is an increase from the N26.01tn earlier considered by the council.
Ahead of the budget presentation, Tinubu had three weeks ago forwarded to both chambers of the National Assembly, the 2024 – 2026 MTEF and Fiscal Strategy Paper where the sum of N26.1tn was proposed as the total expenditure profile for the 2024 fiscal year.
The Senate through its committee on Finance after two weeks of interactive sessions with heads of Ministries, Departments and Agencies on revenue and expenditure projections made for them, approved the MTEF.
It specifically approved the N26.1tn proposed as the 2024 budget and other parameters as proposed by the President.
Meanwhile, there is heightened security presence at the National Assembly Complex.
Several armed policemen were drafted to the entrances to the complex which are Main (MOPOL) Gate, the Villa Gate and the Annex Gates of the National Assembly.
