{"id":128512,"date":"2023-12-07T11:17:37","date_gmt":"2023-12-07T11:17:37","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/12\/07\/2024-budget-cant-meet-nigerias-needs-because-public-revenue-is-too-small-budget-office\/"},"modified":"2023-12-07T11:17:37","modified_gmt":"2023-12-07T11:17:37","slug":"2024-budget-cant-meet-nigerias-needs-because-public-revenue-is-too-small-budget-office","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/12\/07\/2024-budget-cant-meet-nigerias-needs-because-public-revenue-is-too-small-budget-office\/","title":{"rendered":"&#8216;2024 Budget Can&#8217;t Meet Nigeria\u2019s Needs Because Public Revenue Is Too Small&#8217; \u2014 Budget Office"},"content":{"rendered":"<p><\/p>\n<div>\n<figure id=\"attachment_832991\" aria-describedby=\"caption-attachment-832991\" style=\"width: 1080px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"size-full wp-image-832991\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/12\/20211203_132844.jpg\" alt=\"Suspension Of 5% Excise Duty On Telecom Services Will Affect 2023 Budget, Says Akabueze\" width=\"1080\" height=\"661\"  \/><figcaption id=\"caption-attachment-832991\" class=\"wp-caption-text\">Ben Akabueze<\/figcaption><\/figure>\n<p>Ben Akabueze, Director-General of the Budget Office of the Federation, says the N27.5 trillion 2024 \u2018Budget of Renewed Hope\u2019 at the National Assembly is insufficient to meet Nigeria\u2019s needs.<\/p>\n<p>According to him, the government has to cut its coat according to its cloth.<\/p>\n<p>Seaking on Channels Television\u2019s Politics Today on Wednesday, he said: \u201cI\u2019m always first to acknowledge that the budget of the Federal Government of Nigeria is way too small relative to our needs and our requirements but it is now a case of cutting out coat according to our cloth rather than our size.<\/p>\n<p>\u201cThe reason this budget is this small is because our public revenues are also too small. We also need to keep the focus on that.\u201d<\/p>\n<p><strong>READ ALSO: \u201cThere\u2019s Nothing Hopeful Around Proposed 2024 Budget\u201d \u2013 Business Expert<\/strong><\/p>\n<p>Akabueze who spoke on the economic projections of the President Bola Ahmed Tinubu government for 2024, insisted that despite the criticisms against the estimates, the appropriation bill caters for the poor in terms of healthcare, security, education and the economy.<\/p>\n<p>Recall that on November 29, 2023, the President presented his maiden budget estimates of N27.5trn for the year 2024 to the National Assembly.<\/p>\n<p>Giving a breakdown of the budget estimates, the President fixed recurrent non-debit expenditure at N9.92trn, capital expenditure at N8.73trn, debt service at N8.25trn, revenue at N18.32trn, new borrowings at N7.83trn and deficit at N9.18trn.<\/p>\n<p>According to the President, the economy is expected to grow by 3.76%, while \u201cinflation is expected to moderate to 21.4 percent in 2024.\u201d<\/p>\n<div class=\"code-block code-block-7\" style=\"margin: 8px auto; text-align: center; display: block; clear: both;\">\n<div data-advadstrackid=\"890536\" data-advadstrackbid=\"1\" class=\"infor-target\" id=\"infor-2017261713\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2023\/12\/300x250b.gif\" alt=\"\" width=\"300\" height=\"250\"\/><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ben Akabueze Ben Akabueze, Director-General of the Budget Office of the Federation, says the N27.5 trillion 2024 \u2018Budget of Renewed Hope\u2019 at the National Assembly is insufficient to meet Nigeria\u2019s needs. According to him, the government has to cut its coat according to its cloth. Seaking on Channels Television\u2019s Politics Today on Wednesday, he said: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":128513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-128512","post","type-post","status-publish","format-standard","has-post-thumbnail","category-nigeria-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>&#039;2024 Budget Can&#039;t Meet Nigeria\u2019s Needs Because Public Revenue Is Too Small&#039; \u2014 Budget Office - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2023\/12\/07\/2024-budget-cant-meet-nigerias-needs-because-public-revenue-is-too-small-budget-office\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"&#039;2024 Budget Can&#039;t Meet Nigeria\u2019s Needs Because Public Revenue Is Too Small&#039; \u2014 Budget Office - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Ben Akabueze Ben Akabueze, Director-General of the Budget Office of the Federation, says the N27.5 trillion 2024 \u2018Budget of Renewed Hope\u2019 at the National Assembly is insufficient to meet Nigeria\u2019s needs. 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