Nigeria’s leader presents $34 billion spending plan for 2024, prioritizing the economy, security

By CHINEDU ASADU
Associated Press

ABUJA, Nigeria (AP) — Nigeria’s leader has presented a $34.8 billion spending plan for 2024 to federal lawmakers with a focus on stabilizing Africa’s largest but ailing economy and tackling a deadly security crisis. President Bola Tinubu projects that the economy will grow by at least 3.76% next year. He lists infrastructure and social welfare programs among the government’s priorities to reduce hardship in the country of more than 210 million people. But he says Nigeria’s projected debt service is 45% of the expected total revenue next year. Now lawmakers will deliberate and vote on the plan.