Presidency Assures Swift Impact of 2024 Budget on Nigerians

In a recent interview on Channels Television’s Politics Today, Kunle Olanrewaju, the Senior Special Assistant on National Assembly Matters to President Bola Tinubu, assured Nigerians that they would begin to experience the positive effects of the 2024 budget in the shortest possible time.

Olanrewaju emphasized that the focus of the budget is to address fundamental issues such as job creation, poverty reduction, and social development.

Acknowledging the challenges faced by the average Nigerian, Olanrewaju expressed confidence in changing the narrative through the targeted initiatives outlined in the budget.

He stated that the key areas of focus include security, local job creation, macro-economic stability, investment environment optimisation, human capital development, poverty reduction, and social security.

During President Tinubu’s maiden budget presentation, he underscored the importance of the proposed N27.5 trillion 2024 budget in achieving micro-economic stability and greater access to social security.

The allocations were detailed, with recurrent non-debt expenditure set at N9.92 trillion, capital expenditure at N8.73 trillion, and debt service at N8.25 trillion.

President Tinubu also highlighted a revenue projection of N18.32 trillion, new borrowings at N7.83 trillion, and a deficit of N9.18 trillion.

In a parallel development, the House of Representatives has passed the N27.5 trillion 2024 budget for a second reading.

House Leader Julius Ihonvbere commended President Tinubu for the budget, emphasising the positive impact on national security and education, particularly in the allocation to defence and security, as well as the emphasis on basic education.

Source: Vanguard News