The House of Representatives on Friday, December 1, passed the N27.5 trillion Appropriation Bill for 2024 submitted by President Bola Tinubu for a second reading.
The bill is titled: “A Bill for an Act to Authorise the issue from the Consolidated Revenue Fund of the Federation the total sum of N27,503,404,073,861 (twenty seven trillion, five hundred and three billion, four hundred and four million, seventy-three thousand, eight hundred and sixty-one Naira) only, of which N1,376,352,359,690, 00 (one trillion. three hundred and seventy-six billion, three hundred and fifty-two million, three hundred and fifty-nine thousand, six hundred and ninety Naira) only is for Statutory Transfers, N8,490,960,606,831 (eight trillion, four hundred and ninety billion, nine hundred and sixty million, six hundred and six thousand, eight hundred and thirty-one Naira) only is for Debt Service, N9,918,248,229,600 (nine trillion, nine hundred and eighteen billion, two hundred and forty-eight thousand, two hundred and twenty-nine thousand, six hundred Naira) only is for Recurrent (Non-Debt) Expenditure while the sum of N7,717,842,877,740 (seven trillion, seven hundred and seventeen billion, eight hundred and forty-two million, eight hundred and seventy-seven thousand, seven hundred and forty Naira) only is for contribution to the Development Fund for Capital Expenditure for the year ending on 31 December, 2024 (HB.1027).”
The Bill, described as people friendly, was robustly debated by the lawmakers who mostly commended the president for the emphasis on security, health and education among other critical areas of development.
They emphasised effective oversight to ensure a proper implementation of the budget for a better life for Nigerians.
Some of the lawmakers however expressed reservation over certain projections, for instance meeting up the production of 1.7 million barrels of crude oil per day, against present economic realities.
Hon Kafilat Ogbara from Lagos state described the budget as a people centric budget. She commended it for its emphasis on security, education, human capital development, public, private partnership, revenue automation and transparency and accountability.
She said achieving a successful implementation would require the efforts of all Nigerians and urged other lawmakers to ensure funds given to agencies of government are judiciously implemented.
Hon Clement Jimbo from Akwa Ibom State noted that the budget was based on the National Development Plan for 2021 to 2025, but regretted that the National Planning Commission was moribumd. He argued if the budget is to renew the hope of Nigerians the NPC must be rescuttuutaed and put to effective use.
Hon Victor Nwoloko from Delta State argued that the efforts to address the problem of insecurity would be futile if the problem of electricity in the country is not addressed. He said if the provision of proper security for the country is to be tackled the issue of power has to be tackled headlong.
Hon Blessing Amadi from Rivers State urged the legislators to be diligent in oversight to ensure agencies stick to the provisions of the budget.
Hon Fred Agedi from Bayelsa state said the budget did not have much consideration for people from the riverine areas, especially in terms of transportation.
He complained that they were being neglected by the budget. He said since the removal of the subsidy life has become more unbearable for his constituents.
He said the budget should be fine tuned to connect with the needs of the people at all levels.
Hon Muktyar Chawai from Kaduna State urged that besides improving security to help the economy of the country, the solid minerals sector should also be given priority.
Hon Ginger Obinna from Abia State was concerned that the budget did not adequately appropriate for education to meet UNESCO’s recommendations.
Hon Hart Cyril Godwin from Rivers regretted that multinationals in the oil and gas sector had not carried out any critical investment in the past 10 years.
This is as he argued that achieving the realization of 1.7 million barrels per day as projected by the budget next year is unrealistic.
According to him , to be able to achieve this there is a need for such investments.
Hon Ugonna Ozurigbo from Imo State urged that more funding should be provided for the amnesty programme in the Niger Delta.
This he said would enhance security in the area which would translate to more production of crude and the improvement of the economy.
Hon Aliyu Madaki from Kano State urged that all hands must be on deck to ensure an effective implementation of the budget.
He knocked previous administrations in the country as he said the 2024 budget was the first time hope was really offered to Nigerians.
He said tagging it “Renewed Hope” suggested that there was hope before.
He urged the lawmakers to be diligent in oversight to ensure a good life for Nigerians
Several other lawmakers who spoke continued to emphasize the need for security and the need to ensure oversight is diligently carried out.
The Bill was referred to the House Committee on Appropriation by the Speaker, Tajudeen Abbas,for further legislative action
The House adjourned plenary till December 12, to enable various agencies of the Federal Government appear before relevant committees to defend their budgets from next week.