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2024 Budget: FG Explains Reason for Increased Budget Request
The Federal Government said the proposed N6.2 trillion addition to the 2024 budget will be allocated to enhancing road infrastructure and other developmental projects across the country.
Eko Hot Blog gathered that Senator Atiku Bagudu, the Minister of Budget and National Planning, made this known on Friday during an interactive session with the Senate Committee on Appropriation, led by Senator Solomon Adeola (APC – Ogun West).
He emphasized that recent challenges faced by Nigerians stem from a historical lack of investment in various critical infrastructure sectors.
The minister was summoned to clarify the specifics of the N6.4 trillion budget augmentation requested by President Bola Tinubu.
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Bagudu praised President Tinubu for demonstrating the political will to address the infrastructure deficit by advocating for N3.2 trillion to fund major projects such as the Lagos-Calabar coastal highway, the Sokoto highway, and the Trans-Sahara highway.
He expressed confidence that these infrastructure projects, once completed, will stimulate economic activity and enhance the country’s revenue base.
He further noted that the projects will drive substantial transformation and reinforce the nation’s economic framework.
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