President Bola Tinubu on Wednesday presented the 2024 budget to the joint session of the National Assembly.
The president walked into the chamber at exactly 11:09 am.
Senate President, Godwills Akpabio, speaker of the house of representatives, Tajudeen Abbas and members of both chambers seated before the president entered the chamber.
lawmakers all rose to welcome the president and vice-president Kashim Shettima, into the chamber.
CRUX NEWS reports that the federal executive council (FEC), had on Monday approved the sum of N27 trillion as the proposed amount for the 2024 budget.
Last week, the senate and the house of representatives approved the 2024-2026 medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP) — parameters on which the 2024 budget will be framed.
The lawmakers approved $73.96, $73.76 and $69.90 per barrel as benchmark oil prices for daily crude oil production of 1.78 million barrels, 1.80 million barrels, and 1.81 million barrels, for 2024, 2025, and 2026 respectively.
Also, the parliament approved an exchange rate of N700/$, N665.61/$ and N669.79/$, proposed by the federal government for the period of 2024–2026.
