Headline : Budget Minister Briefs the Press on Budget Padding concerns, unveils innovative provisions of the 2024 Budget.

Read more from the original article on here at nationalplanning.gov.ng.

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The Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu, today in Abuja, addressed concerns related to the allegation of budget padding made by Senator Abdul Ningi; drawing from his understanding of the system and budgetary processes. The Minister also reaffirmed federal government’s commitment to upholding democratic principles.

While highlighting key developments during a media briefing in his office, surrounding the 2024 national budget, Sen. Bagudu disclosed that the President presented a budget of N27.503 trillion to the National Assembly but due to the current exchange rate and increased contributions from government owned enterprises, the National Assembly in its wisdom, increased it to N28.77 trillion which reflects a concerted effort to optimize revenue streams.

He disclosed the innovative provisions of the budget aimed at catalyzing economic growth and addressing critical national priorities saying that N100 billion had been provided to support consumer credit which would strengthen the manufacturing sector thereby stimulating economic activities within the country.

Bagudu explained that the National Agricultural Development Agency was created to help sectors that were otherwise difficult to fund and it was designed to attract more funding from private investors to also grow funds.

Read more from the original article on here at nationalplanning.gov.ng.

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