His Excellency, President Bola Tinubu, GCFR, has presented the 2024 Federal Government Budget Proposals at the joint session of the National Assembly in Abuja. The proposed Revenue and Expenditure budgets for 2024 are ₦18.32 trillion and ₦27.50 trillion, respectively, resulting in a ₦9.18 trillion fiscal deficit.
The details of the proposed Budget and the key assumptions are as follows:
The 2024 Budget, themed the "Budget of Renewed Hope" according to the President, is strategically designed to achieve several key objectives. The primary focus areas include fostering job-rich economic growth, maintaining macroeconomic stability, improving the investment environment, enhancing human capital development, reducing poverty, and expanding access to social security.
To optimize the budget performance, the government has affirmed its commitment to prioritizing value for money, promoting greater transparency, and ensuring accountability. In executing these priorities, the government intends to strengthen collaboration with both development partners and the private sector.
Our 2024 Budget Newsletter will be released following the enactment of the Appropriation Act.
The opinion expressed in this article is solely personal and does not represent the views of any organization or association to which the authors belong.