President Bola Tinubu has formally requested the House of Representatives to consider and approve the re-enactment of the 2024 national budget estimated at ₦43.56 trillion.
In a letter read on the floor of the House by Speaker Tajudeen Abbas, President Tinubu explained that the request became necessary due to changes made to the budget after its initial passage. He said the re-enactment would align the final document with the 2024 Appropriation Act he signed into law.
According to Tinubu, the proposed amendment includes adjustments to revenue and expenditure projections, as well as key fiscal policies required for the effective implementation of his administration’s Renewed Hope Agenda. He urged lawmakers to treat the request with urgency to avoid disruption in government spending.
The President noted that the proposed re-enacted budget maintains a focus on key sectors such as infrastructure, education, healthcare, and security. He emphasized that it also incorporates new allocations to meet emerging national needs, including strategic interventions to stabilize the economy and mitigate the impact of global inflationary pressures.
Speaker Abbas referred the letter to the Committee on Appropriations and Finance for immediate consideration. Lawmakers are expected to debate and possibly pass the re-enacted budget before the end of the current legislative session.
This move comes amid ongoing debates about Nigeria’s rising debt profile and concerns over the efficiency of government spending. However, Tinubu’s administration insists that the proposed adjustments will enhance budget performance and restore fiscal discipline across ministries and agencies.
