President Bola Tinubu has appealed to the National Assembly to ensure that his 27.5 Trillion Naira Budget of Renewed Hope is passed and come into effect on January 1, 2024.
The President, while addressing the National Assembly in Abuja, charged both arms of the Legislative to work speedily and conclude their deliberations on the 2024 budget estimate which has 9.92 Trillion Naira allocated to non-debt recurrent expenditure and 8.7 trillion naira for capital expenditure.
Addressing a joint session of the National Assembly on the 2024 Federal Budget proposal in Abuja, President Tinubu said the nation’s internal security architecture will be overhauled to enhance law enforcement capabilities with a view to safeguarding lives, property, and investments across the country.
He stressed that the budget of Renewed Hope will ensure micro-economic stability, poverty reduction, greater access to social security, amongst others.
The budget has a conservative oil price benchmark of 77.96 U.S. Dollars per barrel and a daily oil production estimate of 1.78 million barrels per day, alongside a Naira to U.S. Dollar exchange rate of 750 naira per U.S. Dollar.
