Senate Begins Debate on N27.5 Trillion 2024 Budget Proposal

By Iyojo Ameh

The Nigerian Senate initiated deliberations on the proposed 2024 budget, amounting to N27.5 trillion, following its presentation by President Bola Ahmed Tinubu. Commencing the general principles debate on Thursday, various senators expressed their views and concerns regarding the allocation and priorities outlined in the budget.

Senate Leader, Michael Opeyemi (APC, Ekiti Central), emphasized the budget’s focus on crucial sectors like electricity, vaccine procurement, major infrastructure projects such as roads, and railway development.

He stressed the necessity of exploring non-debt financing options for these initiatives.

Supporting the second reading, Senator Joel Onowakpa (APC, Delta South) highlighted the budget’s potential to rejuvenate hope among the populace.

He emphasized the significant allocation of 8.7 trillion to Capital expenditure, suggesting it could address long-standing issues.

Senator Osita Ngwu (PDP, Enugu West) urged vigilance to prevent a decline in the oil agency’s performance and called for a review of the Petroleum Industry Act (PIA), citing challenges arising since its implementation.

Expressing satisfaction with the Capital expenditure, Senator Garba Maidoki (PDP, Kebbi South) advocated for a fair distribution across all sectors. He also stressed the urgent need to address the ongoing insecurity challenges.

Senator Eteng Williams (APC, Cross River Central) commended the anticipated increase in daily oil production to 1.7 million barrels, viewing it as a positive sign for the government compared to the previous production level of 1.3 million barrels.

Reflecting on past supplementary budgets, Senator Binos Yaroe (PDP, Adamawa South) called for thorough scrutiny to ensure fairness and equity during the budget review process.

Senator Ekong Samson (PDP, Akwa-Ibom South) emphasized the budget’s importance in ensuring security and creating opportunities, emphasizing the critical need for effective implementation.

Senator Natasha Akpoti-Uduaghan (PDP, Kogi Central) drew attention to the dilapidated state of educational infrastructure in her district, urging a focus on improving facilities to benefit students.

Highlighting the need for better oversight, Senator Oyewunmi Olalere (PDP, Osun West) urged committees to take responsibility for monitoring projects’ progress, addressing abandoned initiatives from previous budgets.