President Bola Ahmed Tinubu has presented a budget estimate of N27.5 trillion for the 2024 fiscal year, with a projected deficit of N9.18 trillion.
Presenting the estimate to a joint session of the National Assembly on Wednesday in Abuja, the President tagged it: “Budget of Renewed Hope.”
He stated that the deficit contained in the budget is lower than the N13.7 trillion deficit contained in the 2023 budget.
Tinubu was optimistic that the budget deficit would be financed through new borrowings amounting to N7.83 trillion.
He noted that N298.49 billion would be realised through proceeds from privatization and another N1.05 trillion on multilateral and bilateral loans secured for specific development projects.
News Flash