The House of Representatives has approved the second reading of the 2024 budget, totaling N27.5 trillion
The House passed the appropriations bill on Thursday.
House Leader, Julius Ihonvbere, while leading the debate on the general principles of the budget, praised President Bola Tinubu.
He said, “Nigeria will be more secure with the allocation to defence and security.
“As a teacher, I am impressed by the emphasis on basic education. I am sure that education will be better off this time,” he added.
During his inaugural budget presentation before the National Assembly on Wednesday, President Bola Tinubu affirmed that the proposed N27.5 trillion 2024 budget aims to secure micro-economic stability, reduce poverty, and enhance access to social security.
The president emphasized key focus areas, including security, local job creation, macroeconomic stability, optimization of the investment environment, human capital development, poverty reduction, and social security.
He set recurrent non-debit expenditure at N9.92 trillion, capital expenditure at N8.73 trillion, debt service at N8.25 trillion, revenue at N18.32 trillion, new borrowings at N7.83 trillion, and the deficit at N9.18 trillion.
Kanyi Daily recalls that Bola Tinubu had expressed confidence in Nigeria’s economic recovery, assuring citizens that the 2024 budget will pave the way for transformative growth and development.