Nigeria's 2024 Budget: $34.8 Billion Focus on Economy and Security

President Bola Tinubu plans to reduce budget deficit to 3.9% of GDP, down from 6.1%.

Nigeria's President Bola Tinubu has presented a 27.5 trillion naira ($34.8 billion) spending plan for 2024 to federal lawmakers, prioritizing the economy and security.
The spending plan aims to stabilize Africa’s largest but struggling economy and tackle the nation's deadly security crisis.
Tinubu projected that the economy would grow by at least 3.76% next year and listed infrastructure and social welfare programs among the government’s priorities.
At least 8.25 trillion naira ($10.4 billion) in the proposed budget was earmarked to service Nigeria’s high debt, which is almost the same amount planned for capital expenditure.
Tinubu plans to narrow the budget deficit to roughly 3.9% of GDP next year, down from about 6.1% this year.