Posted by Amarachi on Wed 29th Nov, 2023 - tori.ng
The President arrived at the chamber at exactly 11:09 am on Wednesday, November 29.
President Bola Ahmed Tinubu has arrived at the National Assembly to present the 2024 appropriation bill.
The President arrived at the chamber at exactly 11:09 am on Wednesday, November 29.
The president is expected to present the budget before the joint session of the national assembly at the temporary chamber of the House of Representatives.
Senate President Godwills Akpabio, Tajudeen Abbas, the speaker of the House of Representatives, and members of both chambers were seated before the president entered the chamber.
The lawmakers all rose to welcome the president and vice-president Kashim Shettima, into the chamber.
On Monday, the Federal Executive Council (FEC) 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.