2024 Budget: FG targets 3.76% economic growth, N9.18tn deficit -

President Bola Tinubu on Wednesday said his administration is targeting a 3.76 per cent economic growth in the 2024 fiscal year.

This was as he 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.’

“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,” Tinubu said when he presented the 2024 budget proposal to a joint session of the 10th National Assembly in Abuja — his first since assuming office exactly six months ago.

Addressing the NASS, Tinubu promised to overhaul the nation’s internal security architecture to enhance law enforcement capabilities to safeguard lives, property and investments nationwide.

He said the proposed budget prioritises human capital development, with particular attention given to children because human capital remains the most critical resource for national development.

Therefore, “To improve the effectiveness of our budget performance, the government will focus on ensuring value for money, greater transparency, and accountability.

“In this regard, we will work more closely with development partners and the private sector,” he explained.