Abuja, Nigeria – Nigerian President Bola Tinubu has presented a 27.5 trillion naira ($34.8 billion) spending plan for 2024 to federal lawmakers. The budget proposal, focused on stabilizing and growing Africa’s largest but challenged economy, also aims to address the country’s severe security crisis.
According to Africa News Agency, President Tinubu, speaking in Abuja, highlighted that the proposed budget intends to sustain the “strong foundations for sustainable economic development” established by his administration. The plan, which is set to undergo deliberation before being voted on by lawmakers, projects at least 3.76 percent economic growth for the next year. It prioritizes infrastructure and social welfare programs to alleviate hardships among Nigeria’s population of over 210 million.