Nigerian President signs $34 billion 2024 budget into law

With barely a few hours into the new year, president Bola Ahmed Tinubu has signed the 2024 budget for Nigeria into law. The President vows to monitor the progress and development of the budget which stands at 34 billion US dollars…

President Bola Ahmed Tinubu of Nigeria has signed the $34 billion 2024 appropriation bill into law.

The Nigerian president signed the budget for 2024 on Monday at the presidential villa in Abuja, the capital.

Speaking after signing the document, the leader of the West African country said the implementation of the budget would be “efficiently pursued and vigorously monitored”.

He said , “All the institutional mechanisms shall be held to account in ensuring diligent implementation.”

Mr. Tinubu added that all ministries, departments and agencies have been directed to take responsibility and provide monthly Budget Performance Reports to the Ministry of Budget and Economic Planning, which in turn shall ensure the veracity of such.

The Minister of Finance and Co-ordinating Minister of the Economy shall hold regular reviews with the Economic Management Team and, in addition, the president will Chair periodic Economic Coordination Council meetings.

The top focus of the budget, first of its kind for the new Nigerian president, are defence and internal security, job creation, macroeconomic stability, improved investment environment, human capital development, poverty reduction, and social security.