The House of Representatives has expeditiously propelled the N27.5 trillion 2024 budget to the next phase after successfully passing its second reading on Thursday.
During the deliberation on the budget’s key principles, House Leader Julius Ihonvbere lauded President Bola Tinubu’s vision encapsulated within the budget proposal.
He particularly emphasized the substantial allocations dedicated to national security and education, highlighting their potential to significantly enhance these sectors when effectively implemented.
“Enhanced allocation to defense and security will fortify Nigeria’s security landscape,” remarked Ihonvbere.
“As an educator, I’m heartened by the renewed emphasis on basic education, anticipating a substantial improvement in the education sector.”
President Tinubu, in his inaugural budget presentation to the National Assembly, underscored the budget’s focal points, aiming at achieving macroeconomic stability, poverty reduction, and broader access to social security.
The proposed budget allocates resources to pivotal areas such as bolstering security, nurturing local job creation, ensuring macroeconomic stability, optimizing investment environments, fostering human capital development, poverty reduction, and fortifying social security.
Notably, the breakdown includes recurrent non-debit expenditure at N9.92 trillion, capital expenditure at N8.73 trillion, debt service at N8.25 trillion, anticipated revenue at N18.32 trillion, new borrowings at N7.83 trillion, and a projected deficit at N9.18 trillion.
Kindly share this story:
