As Nigeria’s economy continues to struggle, the current administration continues to look for ways to tame inflation. In President Bola Tinubu’s 2024 budget lies the burden of the Renewed Hope agenda and the administration’s dream for a better Nigeria.
President Tinubu appeared before the joint session of the National Assembly to present the 2024 appropriation bill.
President Tinubu believes that the ₦27.5 budget would help his administration kickstart Nigeria’s ailing economy and put it on the road to recovery.
It was the first time he would appear before the lawmakers to lay bare his targeted expenses and revenue for 2024.
The 2024 Appropriation Bill tagged “Budget of Renewed Hope” aims to stabilise the economy, tame inflation, and improve the value of the Naira while improving security.
Breaking down the budget, Tinubu fixed recurrent non-debt expenditure at ₦9.92 trillion and capital expenditure at ₦8.73 trillion.
The President also included debt service at ₦8.25trn, revenue at ₦18.32trn, new borrowings at ₦7.83 trillion, and deficit at ₦9.18 trillion.