Reps passes N27.5trn 2024 budget for second reading

The House of Representatives approved the N27.5 trillion 2024 budget for a second reading on Thursday after President Bola Tinubu presented it on Wednesday.

National security and education, which were heavily funded in the budget, would improve if executed, according to House Leader Julius Ihonvbere, who led the discussion on the general budgetary principles.

He asserts, “Nigeria will be more secure with the defense and security budget.”

“The focus on fundamental education is impressive to me as a teacher. “I’m confident that this time around, education will be better off,” he remarked.
Earlier on Wednesday, President Bola Tinubu disclosed that the next fiscal year’s economic growth was the administration’s goal, with a target of 3.76%. ‶

This was said by Tinubu during his first presentation of the N27.5 trillion 2024 budget plan to a joint session of the 10th National Assembly in Abuja. Tinubu took office precisely six months ago.

Read Also: Katsina Gov. Radda approves N1.3bn as exam fees for indigenous students

Nigeria’s commitment to a greener future is a key component of this budget and the medium-term expenditure framework.Above the projected global average, we anticipate the economy will grow by at least 3.76 percent. In 2024, inflation is predicted to drop to 21.4%, according to Tinubu.

He also promised to stick to the January-December implementation schedule established by Muhammadu Buhari’s previous administration, which is why he urged the MPs to move quickly to enact the appropriations bill.

“Our objective is to guarantee that the Approvation Act becomes operative on January 1, 2024,” stated the President.