National Assembly Allocations in 2024 Budget: Senate Receives N49bn, House N78.6bn

 In a significant development, the House of Representatives has given its approval to a total expenditure of N28.78 trillion for the 2024 fiscal year. This marks an increase of N1.2 trillion from the initial budgetary proposal of N27.5 trillion presented by President Bola Tinubu on November 30, 2023.

A detailed breakdown of the approved sum reveals key allocations: N1.74 trillion for statutory transfers, N8.27 trillion for debt service, N8.78 trillion for recurrent (non-debt) expenditure, and N10 trillion for capital expenditure for the year ending December 31, 2024.

In the appropriation bill, the Senate, consisting of 109 members, received an allocation of N49.14bn, while the House of Representatives, with 360 members, was allocated a total of N78.62bn. The National Assembly Service Commission, overseeing the federal parliament's bureaucracy, secured a total allocation of N12.33 billion.

The approved budget also earmarks N20.39 billion for remuneration and other logistics for legislative aides, demonstrating a commitment to supporting the essential functions of the legislative branch. Additionally, the National Institute for Legislative and Democracy Studies received an allocation of N9.01 billion, reflecting an official eagerness to enhance its capacity.

Notably, the Public Accounts Committees of the Senate and House of Representatives received substantial allocations of N130 billion and N150 billion, respectively. These allocations highlight the critical role these committees play in ensuring transparency and accountability within the legislative process.