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March 12, 2024 Ningi Stands Alone: Northern Senators Distance Themselves from His 2024 Budget Claim

Ningi Stands Alone: Northern Senators Distance Themselves from His 2024 Budget Claim

Northern Senators Forum (NSF) lawmakers have distanced themselves from Senator Abdul Ningi’s recent remarks concerning the 2024 budget.

Ningi, representing Bauchi Central (PDP), claimed in an interview that the executive was executing a budget not approved by the National Assembly. He stated that the National Assembly had passed a ₦25tn budget, contrary to the ₦28.7tn being implemented.

However, the presidency rebutted Ningi's assertions, stating that the purported ₦25tn budget was never presented to the Senate. This stance was reinforced when members of the Northern Senators Forum, led by Ningi, disassociated themselves from his claims against the presidency and the National Assembly on March 11, 2024.

In a statement, the NSF clarified that Ningi's remarks were his personal opinion and should not be construed as the stance of the Forum. They affirmed that the President presented a budget of ₦27.5 trillion, which was adjusted by the National Assembly to ₦28.7 trillion to cater to critical projects and services. The forum emphasized that there was no budget padding in the 2024 budget.

Ningi, responding to the controversy, refuted allegations that he accused President Bola Tinubu of implementing a different budget. He clarified that his statements were misconstrued, emphasizing that he never mentioned ₦25 trillion or ₦28 trillion budgets. Additionally, he denied accusing Tinubu of bias against the north.

Overall, the Northern Senators Forum seeks to distance itself from Ningi's remarks, maintaining that the 2024 budget was duly passed and implemented without discrepancies.

November 30, 2023 Security, Job Creation, Poverty Reduction Top Priorities For 2024 Budget- President Tinubu

Security, Job Creation, Poverty Reduction Top Priorities For 2024 Budget- President Tinubu

President Bola Tinubu has said the security architecture will be overhauled to enhance law enforcement capabilities to safeguard lives, property, and investments nationwide.

The president said this at the presentation of the 27.5 trillion naira for the 2024 Budget of Renewed Hope to a joint session of the National Assembly in the temporary chamber of the House of Representatives.

Last week, the two chambers of the National Assembly passed the 2024–2026 Medium Term Expenditure Framework and the Fiscal Strategy Paper (FSP), with a total spending of N26 trillion for the 2024 budget fiscal year and a borrowing plan of N7.8 trillion.

During his first budget presentation before parliament, the President said the proposed budget also prioritizes human capital development, macro-economic stability, poverty reduction, and social security, among others. Shortly after the presentation, the president departed Abuja to participate in the COP28 Climate Summit in Dubai, United Arab Emirates.

November 28, 2023 President Tinubu To Unveils Budget On Wednesday As FEC Approves $1 Billion Loan

President Tinubu To Unveils Budget On Wednesday As FEC Approves $1 Billion Loan

President Bola Tinubu is set to unveil the 2024 Appropriation Bill before a joint session of the National Assembly this Wednesday.

The development follows the Federal Executive Council's approval of the 2024 Appropriation Bill on Monday, which now stands at N27.5 trillion, marking an increase from the initial N26.01 trillion under consideration.

Minister of Budget and Economic Planning, Abubakar Bagudu, shared this information with State House correspondents after the conclusion of the weekly FEC meeting, presided over by President Tinubu at the Aso Rock Villa in Abuja. Bagudu revealed that the Federal Government anticipates a revenue projection of N18 trillion for the 2024 fiscal year. He assured that further details of the appropriation bill would be disclosed during the President's presentation to the National Assembly.

The minister also highlighted ongoing reviews of the Medium-Term Expenditure Framework by the Council. He stated, "Equally, the Federal Executive Council approved the 2024 Appropriation Bill and the presentation of such to the National Assembly by His Excellency, Mr. President." The revised bill reflects an aggregate expenditure of N27.5 trillion, a significant increase from the previous estimate, incorporating the old reference prices.

Bagudu went on to share specifics, saying, "The forecast revenue is now N18.32 trillion, which is higher than the 2023 revenues, including that provided in the two supplementary budgets." He emphasized that the deficit is lower than that of 2023, and further details of the "Renewed Hope Budget" would be unveiled by President Tinubu during the presentation to the National Assembly.

In addition to these updates, the minister announced adjustments to the MTEF benchmarks by FEC. "Today, the Federal Executive Council further revised the Medium-Term Expenditure and Fiscal Policy Framework," he said. Notably, the exchange rate was revised from N750 to $1, and the benchmark crude oil reference price increased to $77.96, representing a $4 increment from the previous approval.

Bagudu stressed that these changes significantly boost government revenue to support key priority areas, including health, education, infrastructure, security, and other developmental initiatives.

December 23, 2022 Senate Postpones Passage Of 2023 Budget, Cites ‘Problems’

Senate Postpones Passage Of 2023 Budget, Cites ‘Problems’

The Senate has postponed the passage of the 2023 budget as well as the Finance Bill, until Wednesday, December 28th, 2022.

Senate President, Ahmad Lawan, while making this known during plenary, explained that the Upper Chamber is postponing the budget passage because of some challenges in receiving the report on the 2023 budget from the appropriations committee.

Lawan added that the Senate Appropriations Committee kickstarted a process of cleaning up the 2023 budget first and they engaged the executive in the cleanup exercise.

According to him, the process was concluded on Wednesday, December 21st and the Committee couldn’t conclude putting together the report for submission.

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