The Nigerian presidency has given an assurance that the effects of the 2024 budget will be felt by Nigerians in a very short time. Kunle Olanrewaju, the Senior Special Assistant on National Assembly Matters to President Bola Tinubu, made this statement during an interview on Channels Television’s Politics Today. He emphasized that the budget is focused on addressing fundamental issues such as job creation, poverty reduction, and social development, with the aim of changing the current situation for the better. Olanrewaju expressed confidence that the impact of the budget will be noticeable soon, offering hope for a brighter future for the country.

During his maiden budget presentation before the National Assembly, President Bola Tinubu highlighted the key objectives of the proposed N27.5 trillion 2024 budget. These include ensuring micro-economic stability, reducing poverty, and improving access to social security. The president outlined priority areas such as security, local job creation, macro-economic stability, investment environment optimization, human capital development, poverty reduction, and social security. The budget allocates N9.92 trillion to recurrent non-debt expenditure, N8.73 trillion to capital expenditure, N8.25 trillion to debt service, and anticipates revenue of N18.32 trillion. Additionally, new borrowings are projected at N7.83 trillion, with a deficit of N9.18 trillion.

The House of Representatives has passed the N27.5 trillion 2024 budget for a second reading, signaling progress in the legislative process. House Leader Julius Ihonvbere, while leading the debate on the general principles of the budget, praised President Bola Tinubu and highlighted the significant allocations to national security and education. He expressed optimism that these allocations, if effectively implemented, will lead to improved security and enhanced educational opportunities for the Nigerian populace.

Naijamatta is a social networking site,

download Naijamatta from Google play store or visit www.naijamatta.com to register. You can post, comment, do voice and video call, join and open group, go live etc. Join Naijamatta family, the Green app.