Nigeria’s president Bola Ahmed Tinubu has projected economic growth of about 3.76 percent by year 2024. The projection was made in the 2024 budget proposal presented to the National Assembly on Wednesday.

In the budget presented by the president, an aggregate expenditure of 27 trillion naira is proposed for the Federal Government in 2024. While the non-debt recurrent expenditure is 9.92 trillion naira, the debt service is projected to be 8.25 trillion naira and capital expenditure is 8.7 trillion naira.

On the economic growth, Tinubu foresees a growth of 3.76 percent while inflation is expected to moderate to 21.4 percent in the fiscal year.

While making the presentation, the president revealed that in preparing the 2024 Budget, the primary objective has been to sustain the robust foundation for sustainable economic development, noting that a critical focus of the budget and the medium term expenditure framework is Nigeria’s commitment to a greener future.

Emphasizing public-private partnerships, the president said his administration has strategically made provisions to leverage private capital for big-ticket infrastructure projects in energy, transportation and other sectors.

This according to him will mark a critical step towards diversifying the energy mix, enhancing efficiency, and fostering the development of renewable energy sources.

“By allocating resources to support innovative and environmentally conscious initiatives, we aim to position Nigeria as a regional leader in the global movement towards clean and sustainable energy,” the speech read in part.