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2024 Nigeria budget by The President. President Bola Tinubu has released the N27.5 trillion fiscal year 2024 budget projections.
On Wednesday, the budget was brought to a joint session of the National Assembly, where it is currently being scrutinized and debated for final approval.
“The 2024 Appropriation has been themed the Budget of Renewed Hope,” he said in his presentation. The proposed budget aims to produce job-creating economic growth, macroeconomic stability, a stronger investment environment, improved human capital development, poverty reduction, and increased access to social protection.
This is the breakdown and highlights of significant allocations in the 2024 budget, as outlined in a document provided by the Minister of Budget and Economic Planning, Abubakar Atiku Bagudu.
EDUCATION: N2.18 Trillion (7.9% of the Budget)
N1.23 trillion – The amount set aside for the Federal Ministry of Education and its agencies (including recurring and capital spending).
N251.47 billion – Amount provisioned for Universal Basic Education Commission (UBEC)
N700.0 billion – Transfers to the Tertiary Education Trust Fund (TETFUND) for infrastructure projects in Tertiary institutions
HEALTH: N1.33 TRILLION (5% of the Budget)
N1.07 trillion – The amount set aside for the Federal Ministry of Health and its agencies (including recurring and capital spending).
N137.21 billion – Gavi/ Immunization funds, including Counterpart Funding for Donor Supported Programmes
Transfer of N125.74 billion to the Basic Healthcare Provision Fund (BHCPF) 1% of CRF