Tinubu Eyes Macroeconomic Stability, Better Investment Environment With 2024 Budget
By Aduragbemi Omiyale
President Bola Tinubu has said the 2024 budget presented to the joint session of the National Assembly on Wednesday was designed to achieve macroeconomic stability, a better investment environment, greater access to social security, poverty reduction and enhanced human capital development.
According to him, if these goals are achieved, the standard of living of Nigerians will improve and the citizens will enjoy the dividends of democracy.
While presenting the 2024 Appropriation Bills to the parliament yesterday, the President said this was why he christened the budget proposal as the Budget of Renewed Hope.
Mr Tinubu told the lawmakers that the bill presented to them would “go further than ever before in cementing macro-economic stability, reducing the deficit, increasing capital spending and allocation to reflect the eight priority areas of this administration.”
“The budget we now present constitutes the foundation upon which we shall erect the future of this great nation,” he further said.
“The proposed Budget seeks to achieve job-rich economic growth, macro-economic stability, a better investment environment, enhanced human capital development, as well as poverty reduction and greater access to social security,” the President stated.
He expressed optimism that the budget would “help address structural problems in the economy by lowering the costs of doing business for companies and the cost of living for the average person,”
According to him, “A stable macroeconomic environment is important to catalyse private investment and accelerate economic growth. We have and shall continue to implement business and investment-friendly measures for sustainable growth.”
He disclosed that provisions have been made “to leverage private capital for big-ticket infrastructure projects in energy, transportation and other sectors.”
“This marks a critical step towards diversifying our energy mix, enhancing efficiency, and fostering the development of renewable energy sources,” he noted.