NASS Passes N28.7tn As 2024 Appropriation Bill

The Nigerian Senate has passed the nation’s budget for the 2024 fiscal year.

The budget was increased from N27.5 trillion to N28.7 trillion presented by President Bola Tinubu before the joint sitting of the National Assembly yesterday.

Budget shows an increase of over N1.2 trillion. The lawmakers approved an increase in the exchange rate to $ 800/$1 as against the N750/ $1 rate proposed by the executive, while Crude oil price was pegged at $77.96 per barrel, crude oil production at 1.78 million barrels per day.

The Senate approved the borrowing plan submitted by the President Bola Tinubu.

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