Renewed Hope 2024 Budget Passes Second Reading

The House of Representatives has passed the N27.5 trillion 2024 budget for second reading.

The House passed the the appropriations bill on Thursday. 

House Leader, Julius Ihonvbere, while leading the debate on the general principles of the budget, commended President Bola Tinubu.

Ihonvbere noted that national security and education which got significant allocations, will be enhanced if implemented.

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.

Recall President Bola Tinubu, 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 highlighted priority areas such as security, local job creation, macro-economic 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.