Senate Approves N28.7tn Budget for 2024, Raises Spending by N1.2tn
- Senate increases 2024 budget by N1.2tn to N28.7tn
- Breakdown of increased expenditure statutory transfers - N1.74tn; recurrent - N8.77tn; capital - N10tn
- Original budget presented by President Tinubu was N27.5tn
- Budget deficit is N9.18tn, representing 3.88% of GDP
- Deficit to be financed by new borrowings of N7.83tn and other sources