The N27.5 trillion 2024 Appropriations Bill was presented by President Bola Tinubu to a joint session of the House of Representatives and Senate yesterday.
Declaring that the government will use the “revised 2024-2026 Medium Term Expenditure Framework, MTEF, and Fiscal Strategy Paper, FSP, as parameters for the budget,” he emphasized that his administration intends to grow the economy by at least 3.76 percent, above the forecasted global average, in the upcoming year.
Known as the “Budget of Renewed Hope,” Tinubu pledged that if it was passed, the internal security framework of the country would be redesigned to improve law enforcement’s capacity and protect people, assets, and property all around the nation.
At 11:13 a.m., President Tinubu arrived at the House of Representatives Chamber. His presentation began at 11:40 a.m. and ended at 12:05 p.m.
He said the budget’s top priorities were the country’s defense and internal security, local job creation, macroeconomic stability, investment environment optimization, human capital development, poverty reduction, and social security.
He also urged lawmakers to consider the interests of Nigerians when deciding how to implement the budget bills.
Assuring that the student loan program would launch in January 2024, Tinubu continued, saying that the proposed budget places a high priority on the development of human capital, with a special focus on children, since human capital continues to be the most important resource for the advancement of the country.
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