By Michael Agbaji
Chairman House Committee on Appropriations Hon.Abubakar Bichi says the 27.5 trillion naira proposed and present by the president Ahmed Tinubu is deliberate policy of APC led federal government to give hope to Nigeria.
Hon. Bichi stated this while speaking with newsmen Wednesday after the presentation of budget of renewed hope by president Ahmed Bola Tinubu at the National Assembly in Abuja.
According to him,president Bola Tinubu has presented Budget of Renewed Hope of N27.5tr for the 2024 fiscal year with Nigeria’s national defence and internal security, local job creation, macro-economic stability and investment environment optimization.
He says, the budget deficit is projected in 2024 is to carry all critical project that will affect the lives of ordinary Nigeria representing 3.88 percent of GDP. This is lower than the 13.78 trillion naira deficit recorded in 2023, which represented 6.11 percent of GDP. The deficit will be financed by new borrowings totaling 7.83 trillion naira, 298.49 billion naira from Privatization Proceeds, and 1.05 trillion naira draw down on multilateral and bilateral loans secured for specific development projects.”
He further says,the effectiveness of our budget performance, the government will focus on ensuring value for money, greater transparency, and accountability. In this regard, we will work more closely with development partners and the private sector.
“To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024,” he affirmed.
“Emphasize tat National Assembly partnerships with executive arms to ensure the renewed hope of Mr president Ahmed Tinubu is achieved he says.
He said,administration of President Ahmed Tinubu remains committed to broad-based and shared economic prosperity, adding: that national assembly will ensure that budget is implemented by the executive under the able leadership of Honorable speaker Rt.Hon Tajudeen Abbas he says
