Tinubu targets 3.76% economic growth in 2024 fiscal year

President Bola Tinubu, on Wednesday, revealed that his administration is targeting a 3.76 per cent economic growth in the next fiscal year. ⁣

Tinubu said this when he presented the N27.5 trillion 2024 budget proposal to a joint session of the 10th National Assembly in Abuja — his first since assuming office exactly six months ago.⁣

“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 percent, above the forecasted world average. Inflation is expected to moderate to 21.4 percent in 2024,” Tinubu said.

READ ALSO: Tinubu presents 2024 Budget proposal of N27.5trn to Joint Session of National Assembly

He also vowed to maintain the January-December implementation cycle laid down by the immediate past administration of Muhammadu Buhari. ⁣

“Our goal is to ensure that the Approbation Act comes into effect on January 1, 2024,” the President said.

Tinubu 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.’ ⁣

He said, “As a Govt, we are committed to improving the lot of our people and delivering our promises to them. The 2024 budget has the capacity to boost businesses and improve the general living condition of our people.

“We are yet to harness the potentials of solid minerals but I promise you that the recovery is here. We need to be sympathetic to the ordinary Nigerian who puts trust in Nigerians.

“This budget will put Nigerians on a sustainable path towards a good future. And I hereby leave before you the 2024 budget proposal. The title is Renewed Hope Budget. May we collective chart the goals towards a brighter future for the country.”