During the presentation of the 2024 Federal budget proposal to a joint session of the National Assembly in Abuja, President Bola Tinubu outlined key priorities for the Budget of Renewed Hope. Emphasizing the significance of national defense, internal security, local job creation, macro-economic stability, human capital development, social security, poverty reduction, and optimizing the investment environment, Tinubu expressed a commitment to addressing these critical areas.
He announced plans to overhaul Nigeria’s internal security architecture to strengthen law enforcement capabilities, ensuring the protection of lives, property, and investments nationwide. Human capital development, particularly focused on children, was highlighted as a crucial aspect of the proposed budget, recognizing the pivotal role of human resources in national development.
To enhance budget performance, Tinubu stressed the government’s dedication to achieving value for money, increased transparency, and accountability. Collaboration with development partners and the private sector was also emphasized to achieve these objectives.
In response to long-standing issues in the education sector, Tinubu revealed plans to implement a more sustainable funding model for tertiary education. This includes the initiation of the Student Loan Scheme, set to become operational by January 2024, as part of the government’s efforts to address challenges in the education system.
