Connect with us


President Tinubu targets 3.76% economic growth in 2024 fiscal year



President Bola Tinubu, on Wednesday, revealed that his administration is targeting a 3.76 per cent economic growth in the next fiscal year. ⁣

Tinubu said this when he presented the N27.5 trillion 2024 budget proposal to a joint session of the 10th National Assembly in Abuja — his first since assuming office exactly six months ago.⁣

“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 percent, above the forecasted world average. Inflation is expected to moderate to 21.4 percent in 2024,” Tinubu said.

Read Also: President Tinubu’s full speech at 2024 budget presentation before Nat’l Assembly

He also vowed to maintain the January-December implementation cycle laid down by the immediate past administration of Muhammadu Buhari. ⁣

“Our goal is to ensure that the Approbation Act comes into effect on January 1, 2024,” the President said.

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.’ ⁣

He said, “As a Govt, we are committed to improving the lot of our people and delivering our promised to them. The 2024 budget has the capacity to boost businesses and improve the general living condition of our people.

“We are yet to harness the potentials of solid minerals but I promise you that the recovery is here. We need to be sympathetic to the ordinary Nigerian who put trust in Nigeriams.

“This budget will put Nigerians on a sustainable path towards a good future. And I hereby leave before you the 2024 budget proposal. The title is Renewed Hope Budget. May we collective chart the goals towards a brighter future for the country.”

Join the conversation


Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now