Gov Jide Sanwo-Olu, FCT Minister Wike, COS Gbajabiamila, SSG Akume, Ganduje, Others Present As President Tinubu Presents 2024 Budget At National Assembly Complex (Photos/Videos)

Gov Jide Sanwo-Olu, FCT Minister Wike, COS Gbajabiamila, SSG Akume, Ganduje, Others Present As President Tinubu Presents 2024 Budget At National Assembly Complex (Photos/Videos)....KINDLY READ THE FULL STORY HERE▶

Written By Oshiobugie Omo-Ikirodah

President Tinubu unveiled the 2024 Budget earlier today at the National Assembly Complex in Abuja. The presentation was attended by several high-profile figures, including Senate President Godswill Akpabio, Deputy Senate President Senator Jibril, HOR Speaker Abbass, Deputy Tajudeen Gov Jide Sanwo-Olu, FCT Minister Wike, Chief of Staff Gbajabiamila, SSG Akume, Governor Ganduje, Kogi Governor Yahaya Bello, Senate-Elect Simon Lalong, Gov Sule and IGP.

The event was documented through photos and videos, emphasizing the significance of this fiscal announcement. The 2024 Budget outlines the government’s financial plans and priorities for the coming year, with the presence of key figures underscoring collaborative governance.

The budget will now undergo scrutiny and deliberation by the National Assembly members for approval, a crucial step in its implementation. The collective review ensures adherence to democratic principles and sets the stage for addressing the nation’s needs and aspirations.

President Bola Tinubu has outlined the key priorities of the 2024 Budget of Renewed Hope, emphasizing Nigeria’s national defense, internal security, local job creation, macro-economic stability, investment environment optimization, human capital development, poverty reduction, and social security. During the presentation of the budget proposal at the National Assembly, President Tinubu highlighted various strategic areas of focus.

President Tinubu emphasized the overhaul of the nation’s internal security architecture to enhance law enforcement capabilities, safeguarding lives, property, and investments across the country. The proposed budget places a strong emphasis on human capital development, with particular attention to children, recognizing them as the most critical resource for national development.

“To improve the effectiveness of our budget performance, the government will focus on ensuring value for money, greater transparency, and accountability. In this regard, we will work more closely with development partners and the private sector,” President Tinubu affirmed.

Addressing long-standing issues in the education sector, President Tinubu highlighted the implementation of a more sustainable model of funding tertiary education, including the Student Loan Scheme scheduled to become operational by January 2024.

In the economic domain, President Tinubu stressed the importance of a stable macro-economic environment to catalyze private investment and accelerate economic growth. The government will continue to implement business and investment-friendly measures for sustainable growth.

“We expect the economy to grow by a minimum of 3.76 percent, above the forecasted world average. Inflation is expected to moderate to 21.4 percent in 2024,” he stated. The President emphasized Nigeria’s commitment to a greener future, with a focus on public-private partnerships and provisions to leverage private capital for major infrastructure projects in energy, transportation, and other sectors.

President Tinubu also highlighted the importance of Nigeria’s role in the global movement towards clean and sustainable energy. He directed relevant government agencies to work towards securing substantial funding commitments to support Nigeria’s energy transition.

A conservative oil price benchmark of $77.96 per barrel and a daily oil production estimate of 1.78 million barrels were adopted. The exchange rate for 2024 is set at 750 naira per U.S. Dollar.

The President provided a breakdown of the 2024 Appropriation Bill, with an aggregate expenditure of 27.5 trillion naira proposed for the Federal Government. Non-debt recurrent expenditure is 9.92 trillion naira, debt service is projected at 8.25 trillion naira, and capital expenditure is 8.7 trillion naira. The budget deficit is projected at 9.18 trillion naira in 2024, with new borrowings, privatization proceeds, and drawdown on loans secured for specific development projects earmarked for financing.

President Tinubu expressed commitment to broad-based and shared economic prosperity, with a focus on reviewing social investment programs to enhance implementation and effectiveness. The National Social Safety Net project will be expanded to provide targeted cash transfers to poor and vulnerable households.

Commending the 10th National Assembly’s resolve to collaborate with the Executive, President Tinubu expressed confidence in a legislative review process that aligns with Nigeria’s fiscal year and focuses on projects and programs with equitable benefits. The President urged a commitment to sectoral mandates and the realization of the administration’s vision.

Bushradiogist reporters, while surfing the internet, have observed a widespread positive sentiment among Nigerians regarding President Tinubu’s performance during his recent speech. Many citizens expressed their admiration for the president’s vast knowledge and noted a significant improvement in his communication style, highlighting that he no longer speaks in what some playfully referred to as “BALABLU.”

The recognition of President Tinubu’s improved articulation and command of language has resonated positively with the public, contributing to a favorable perception of his recent address. It seems that the president’s efforts to enhance his communication skills have been well-received by the Nigerian audience.

See video/photos from today’s event below:

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Source: Bushradiogist