2024 Appropriation Bill Passes Second Reading At House Of Reps

The N27.5 trillion 2024 budget has been passed for a second reading by the House of Representatives on Thursday.

House Leader, Julius Ihonvbere, who led the discussion on the overall budgetary principles, congratulated President Bola Tinubu and noted that national security and education, which received large funding, will improve if effectively implemented as provided in the budget.

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“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 said.

Recall that President Bola Tinubu had on Wednesday presented the 2024 appropriation bill before the National Assembly.

Tinubu had during the presentation vowed that his administration will stick with the January-December implementation cycle laid down by the former President, Muhammadu Buhari-led government. ⁣

Tinubu spotlighted national security, local job creation, and poverty reduction as the top priorities of the 2024 Appropriation Bill which he called the ‘Budget of Renewed Hope.’ ⁣

This was as he said the administration is targeting a 3.76 per cent economic growth in the next fiscal year. ⁣

He further stated, “A critical focus of this budget and the medium-term expenditure framework is Nigeria’s commitment to a greener future…We expect the economy to grow by a minimum of 3.76 per cent, above the forecasted world average. Inflation is expected to moderate to 21.4 per cent in 2024.”

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