Nigeria’s leader presents a $34 billion spending plan that prioritizes the economy and 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 the economy will grow by at least 3.76% next year. He lists infrastructure and social welfare programs as among the government’s priorities to reduce hardship in the country of more than 210 million people. His proposed budget also seeks to improve the capacity of overstretched security forces to fight the extremist violence and rebel attacks in Nigeria’s north. But Tinubu noted that Nigeria’s projected debt service is 45% of the expected total revenue next year. Lawmakers must vote on the plan.