Tinubu to present the 2024 supplemental budget to the NATS.
The National Assembly (NASS) will soon receive the 2024 Supplementary Budget from President Bola Tinubu.
The President told a joint session of the National Assembly on Wednesday, "I submitted the last budget to you."
"You breezed through it. We are exhibiting what we preach. I will present the 2024 Supplementary Appropriations Bill shortly. The President gave a brief speech during the joint sitting to commemorate the fourth anniversary of Nigeria's independence. "That is just for your information," he said.
"Thank you, Mr. President. We will be expecting the Supplementary Appropriations Bill of 2024 as soon as possible," Senate President Godswill Akpabio responded.
"No Foreign Help Is Going to Fix Nigeria"
The President affirmed "Nigeria, we hail thee" as the "latest national anthem" during the joint sitting that took place on the eve of the Tinubu administration.
"You sang out the latest national anthem, 'Nigeria, we hail thee,'" stated Tinubu. This embodies our diversity, showing all the personalities that make us who we are as brothers and sisters.
In order to put the nation on a path of steady progress and development, the President begged the Senate and the House of Representatives to keep cooperating and working with the administration.
"This is our country; we have no other option. Unless we take the initiative, no organisation or individual will be able to assist us. They take care of themselves first; no amount of help from other countries or any other nation (will fix us). Let's collaborate as we are to build our country—not just for ourselves but also for future generations,” he said.
On January 1, 2024, Wobbling Naira Tinubu gave his assent to the ₦28.7 trillion 2024 Appropriations Bill that had been approved by the Senate.
The budget for 2024 was ₦1.2 trillion more than the one that the President had first presented to the joint NASS session on November 29, 2023. Known as the "Budget of Renewed Hope" for 2024, the President set the price of oil at $77.96 with a daily oil production estimate of 1.78 million barrels per day.
The President had also pegged the naira at ₦750/$1 but barely weeks into the operationalisation of the budget, the naira plunged to nearly ₦2,000/$1 in February. The currency, which has wobbled in an unprecedented manner against the United States’ greenback in the last months since the unification of the foreign exchange windows, currently exchanges for around ₦1500/$1.
