The Minister of Budget and Economic Planning, Sen. Atiku Bagudu, has stated that the 2024 budget is a budget that is aimed at restoration in the country, News About Nigeria reports.
He made this known while speaking on the 2024 budget at the KPMG Arise TV Budget Day programme on Sunday.
The minister noted that the 2024 budget aims to instill confidence in the private sector and encourage them to invest, adding that President Bola Tinubu is committed to providing a plan-based approach to the budget and its execution.
He also stated that the president is determined to address issues causing a hindrance and restrain economic growth across various sectors in the country, such as agriculture, power, digital economy, and energy, among others.
He, therefore, assured Nigerians that the Presidency will tackle food insecurity, eradicate poverty in the country, provide access to capital, and also enhance transparency, accountability, and rule of law, adding that it is important that the nation make choices that are better than what has been made before.
Bagudu further disclosed that the country will need at least $100 billion in investments to achieve Nigeria Agenda 2050, with over 80 percent expected to come from the private sector.
According to him, Agenda 2050, which was launched by former President Muhammadu Buhari before leaving office, is to see that Nigeria achieves a per capita GDP of $33,328 per annum, which will position it among the world’s top middle-income economies by 2050.
He also noted that there was a need for the country’s economy, which is Africa’s largest economy, to grow at a faster rate than it had grown in the last 15 years, adding that it would require private capital to do so.
