The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has commended President Bola Tinubu’s presentation of the N27.5 trillion 2024 budget, describing it as a move in the right direction.
Speaking to journalists in Abuja, Edun expressed optimism about the budget, emphasizing its focus on stabilizing the economy and fostering private sector growth.
“The President’s emphasis on improving security and the allocation of funds for the security architecture through the supplementary budget demonstrates a commitment to public-private partnerships,” remarked Edun.
He also highlighted the positive shift in deficit financing, with the percentage of the overall economy being halved from over six per cent to about three per cent, signifying increased stability.
“This reflects a priority for Mr. President and marks a substantial improvement from the previous situation,” he added.
Edun further praised the realistic nature of the exchange rate assumption of N750 to the dollar, emphasizing the importance of practical and reasonable budgetary estimates.
Alhaji Abubakar Bagudu, the Minister of Budget and Economic Planning, echoed Edun’s sentiments, citing President Tinubu’s track record of budget implementation and the significance of the 2024 budget in solidifying the macro-economy.
“The timely presentation of the budget allows for adequate scrutiny by the National Assembly, and we are optimistic about its passage by December 31,” stated Bagudu.
He revealed plans for a budget town hall meeting to ensure the budget’s alignment with the needs of the citizenry. “Nigerians will have the opportunity to contribute their input, reflecting our commitment to a people-oriented budget,” he affirmed.
Bagudu emphasized the aim to provide sustainable capital for Nigerians, rather than relying solely on palliatives, underlining the government’s vision for enabling citizens to lead fulfilling lives.
