Following the presentation of the 2024 budget by President Bola Ahmed Tinubu before the joint session of the 10th National Assembly on Wednesday, the House of Representatives on Thursday passed the N27.5trn budget for the second reading.
Leading the debate on the general principles of the budget, House Leader Julius Ihonvbere commended President Bola Tinubu, noting that national security and education, which got significant allocations, will be enhanced if implemented.
“Nigeria will be more secure with the allocation to defence and security.
“As a teacher, I am impressed by the emphasis on basic education. I am sure that education will be better off this time,” he said.
The Informant247 on Wednesday, reported that Nigerian President Asiwaju Bola Ahmed Tinubu, while presenting the N27.5trn 2024 budget before the joint session of the 10th National Assembly, said his administration is poised to maintain the January-December implementation cycle laid down by the immediate past administration of Muhammadu Buhari.
“Our goal is to ensure that the Approbation Act comes into effect on January 1, 2024,” Tinubu said when he presented the N27.5 trillion 2024 budget proposal to a joint session of the 10th National Assembly in Abuja — his first since assuming office exactly six months ago.
Tinubu spotlighted national security, local job creation, and poverty reduction as the top priorities of the 2024 Appropriation Bill, which he called the ‘Budget of Renewed Hope.’
He said the administration is targeting a 3.76 per cent economic growth in the next fiscal year.
“A critical focus of this budget and the medium-term expenditure framework is Nigeria’s commitment to a greener future…We expect the economy to grow by a minimum of 3.76 per cent, above the forecasted world average. Inflation is expected to moderate to 21.4 per cent in 2024,” Tinubu said.
