Katsina Times

In a decisive move, President Bola Tinubu has signed the 2024 Appropriation Bill into law, underscoring his commitment to a timely, predictable, and efficient budget cycle. The ceremonial act took place at the State House on Monday, following the President's return to Abuja from Lagos.

Assuring Nigerians of diligent implementation, President Tinubu declared, "All institutional mechanisms shall be held to account," emphasizing monthly Budget Performance Reports from Ministries, Departments, and Agencies (MDAs). The President outlined a robust oversight plan, involving regular reviews and periodic Economic Coordination Council meetings.

The N28.7 trillion budget's focal points include defense and internal security, job creation, macro-economic stability, investment environment improvement, human capital development, poverty reduction, and social security. President Tinubu highlighted his dedication to a rules-based society, initiating critical reforms in the Nigerian judiciary, funded by the 2024 Appropriation Act.

"Funding the judiciary is a major element in our effort to support a just, rules-based society," affirmed the President, announcing a substantial increase in statutory transfers to the Judiciary from 165 billion naira to 342 billion naira.

Key budget estimates encompass N10 trillion for capital expenditure, N8.8 trillion for recurrent expenditure, N8.2 trillion for debt service, and N1.7 trillion for statutory transfers. The signing ceremony witnessed the presence of Senate President Godswill Akpabio, House of Representatives Speaker Tajudeen Abbas, and other senior government officials, including Minister of Finance Wale Edun, Chief of Staff Femi Gbajabiamila, Minister of Budget Atiku Bagudu, and National Security Adviser Nuhu Ribadu.