The House of Representatives has passed the N27.5trn 2024 budget for a second reading following President Bola Tinubu’s request for speedy consideration and passage of the bill.
House Leader, Julius Ihonvbere who opened the debate on the general principles of the budget at plenary commended President Tinubu, noting that national security and education, which got significant allocations, will be enhanced if implemented.
He added that the budget tagged renewed hope had equally sent a signal to investors that Nigeria was serious about reforms, recovery and commitment to servicing its debts.
The N27.5trn budget proposal has 8.25 trillion naira projected for debt service with a conservative oil price benchmark of 77.96 U.S. Dollars per barrel and a daily oil production estimate of 1.78 million barrels per day adopted by President Tinubu and his cabinet.
