Tinubu To Present 26.1tr Budget Proposals Early November

By James Itodo

The Senate says President Bola Tinubu will present the proposed N26.1trillion 2024 budget estimates to joint session of the National Assembly early next month .

Ahead of the presentation, the Senate through its committee on Appropriations, has summoned the Minister of Finance, Wale Edun and his counterpart on Budget and Economic Planning, Senator Atiku Bagudu to appear before it on Wednesday next week for explanations.

This is as the Chairman of the Committee, Senator Solomon Olamilekan Adeola told newsmen that President Tinubu would forward 2024 – 2026 Medium Term Expenditure Framework ( MTEF) and Fiscal Strategy Paper to both chambers of the National Assembly next week for scrutiny and approval.

Senator Adeola who stated this while fielding questions from journalists after the inaugural meeting of the committee said the executive in the proposed budget should come up with 55% allocation for capital expenditure as against 25 to 30% it has been, over the years.

He also said that the appropriation committee under his chairmanship would not entertain any approval for corrigendum after the budget consideration and passage .

He however assured that despite the delay in budget presentation for the 2024 fiscal year the already established January to December implementation period , would be sustained .

“The new administration has a new mantra that encapsulates its vision and there must be challenges. “We will do a thorough job on the budget. Our job is to verify the budget to meet the expectations of the people. We will look into it thoroughly.

“We are expecting the MTEF next week and immediately we receive the document, the Committee on Finance will go into work and look into it.

Budget to December budget cycle”, he said .

Edited By Grace Namiji