VAM News Update
THE N27.5trn 2024 budget of President Bola Tinubu has passed second reading at the House of Representatives.
Leading the debate on the general principles of the budget on Thursday, House Leader, Julius Ihonvbere commended President Bola Tinubu, noting that national security and education which got significant allocations, will be enhanced if implemented.
“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 said.
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.
