President Bola Ahmed Tinubu has presented a budget estimate of N27.5 trillion to a joint session of the National Assembly for the 2024 fiscal year, with a projected deficit of N9.18 trillion.
Presenting the budget tagged, budget of Renewed Hope to the National Assembly on Wednesday, November 29, the president said that the deficit contained in the budget is lower than the N13.7 trillion deficit contained in the 2023 budget.
He said the deficit in the budget will be financed through new borrowings totalling N7.83 trillion, N298.49 billion from privatization proceeds, and N1.05 trillion drawdown on multilateral and bilateral loans secured for specific development projects.
