The House of Representatives on Thursday passed the N27.5trn 2024 budget for a second reading. Leading the debate on the general principles of the budget, House Leader, Julius Ihonvbere commended President Bola Tinubu, stating that national security and education which got significant allocations, will be enhanced if implemented. “Nigeria will be more secure with the allocation to defense 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.
President Bola Tinubu, recently at his maiden budget presentation before the National Assembly on Wednesday, said the proposed N27.5 trillion 2024 budget will ensure micro-economic stability, poverty reduction, and greater access to social security.
The president spotted some important areas such as security, local job creation, macroeconomic stability, investment environment optimization, human capital development, poverty reduction, and social security. He fixed recurrent non-debit expenditure at N9.92trn, capital expenditure at N8.73trn, debt service at N8.25trn, revenue at N18.32trn, new borrowings at N7.83trn, and deficit at N9.18trn.
