Lawmakers in the House of Representatives, the lower arm of parliament, had passed the framework on Tuesday.
The framework, a key document in the Nigerian budget process, ensures that government spending aligns with its economic and social goals.
A breakdown shows a borrowing plan of 7.8 trillion naira for 2024, a nine trillion Naira deficit and a Federal Government total expenditure of 26 trillion naira.
Announcing the approval, the President of the Senate, GODSWILL AKPABIO, placed the oil price benchmark of seventy-three dollars per barrel of crude oil, one-point-seven-eight million barrels per day and an exchange rate of 700 naira to a US dollar.
