President Bola Tinubu has directed all Ministries Departments and Agencies (MDAs) to provide monthly budget performance reports for the Ministry of Budget and Economic Planning.
Tinubu gave the directive after signing the 2024 Appropriation Bill into law at the Presidential Villa in Abuja on Monday, January 1.
The president, who assured Nigerians that the implementation of the budget would be efficiently pursued and vigorously monitored, said: “All the institutional mechanisms shall be held to account in ensuring diligent implementation.
“All MDAs have been directed to take responsibility and provide monthly Budget Performance Reports to the Ministry of Budget and Economic Planning, which in turn shall ensure the veracity of such.
READ ALSO: Tinubu signs 2024 budget into law
“The Minister of Finance and Co-ordinating Minister of the Economy shall hold regular reviews with the Economic Management Team and, in addition, I shall Chair periodic Economic Coordination Council meetings.”
President Tinubu emphasised that his commitment to enhancing investment promotion while creating a rules-based society that favours no individual over the law begins with important reforms in the Nigerian judiciary, the funding for which is captured in the 2024 Appropriation Act.
“Funding the judiciary is a major element in our effort to support a just, rules-based society. Statutory transfer to the Judiciary has been increased from N165 billion to N342 billion,” Tinubu added.
The top priorities of the 2024 budget of N28.7 trillion are defence and internal security, job creation, macro-economic stability, improved investment environment, human capital development, poverty reduction, and social security.
Some of the key estimates are capital expenditure N10 trillion; recurrent expenditure N8.8 trillion; debt service N8.2 trillion, and statutory transfers N1.7 trillion.
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