Tinubu Set To Present 2024 Budget To N’Assembly In November – Senate

President Bola Tinubu is set to present the 2024 budget before the National Assembly within the next two weeks.

The President will also submit a supplementary budget for the year 2023 to the National Assembly for deliberation.

These announcements were made by Senator Solomon Adeola, the Chairman of the Senate Committee on Appropriation, during the committee’s inaugural meeting on Wednesday.

Senator Adeola emphasized the National Assembly’s commitment to ensuring the prompt passage of the 2024 budget before December 31, 2024.

He stated, “I know we have it on good authority that the supplementary budget would be sent by the executive in the next couple of hours to the National Assembly. Also, in about a week or two weeks, the President will be presenting the 2024 Appropriation Bill to the National Assembly, and as a result of this, I find it very important to call for an inaugural meeting so that we can know one another.”

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Addressing the delay in the budget presentation, Senator Adeola pointed out the significance of the change in government that took place on May 29. He acknowledged the challenges associated with this transition, stating, “There is a teething problem because there is a change of government. The new administration has a new mantra that encapsulates its vision, and there must be challenges.”

However, Senator Adeola assured that despite the delayed submission of the 2024 budget, the Senate would meticulously review it. He emphasized their responsibility to verify the budget to meet the expectations of the people and pledged that the Committee on Finance would begin its work promptly upon receiving the Medium-Term Expenditure Framework (MTEF) in the following week.

He also highlighted the dedication of the Finance Minister and the Minister of Budget and Planning, assuring that the Senate would maintain the tradition of adhering to the January-December budget cycle.

Senator Adeola dismissed the concept of budget padding, asserting that it relates to the inclusion of projects in the budget document that align with the needs and aspirations of the public. He emphasized that such inclusions are not considered padding but rather an integral part of government documents. He expressed confidence in the budget’s estimates but acknowledged that the real test lies in its effective implementation, stating firmly, “So I don’t believe in budget padding; it never exists in my diary.”