The President of Nigeria, Asiwaju Bola Tinubu has presented a budget estimate of N27.5 trillion to a joint session of the National Assembly.

Tinubu arrived at the National Assembly for the presentation of the 2024 budget at about 11:09 am on Wednesday accompanied some ministers and aides. and senior officials.

The President was led into the chamber of the House of Representatives for the presentation of the N27.5trillion Appropriation Bill to a joint session of the National Assembly which began after the rendition of the National Anthem and opening prayers.

Presenting the budget tagged, budget of Renewed Hope, the president said that the deficit contained in the budget is lower than the N13.7 trillion deficit contained in the 2023 budget.

President Tinubu said the deficit in the budget will be financed through new borrowings totalling N7.83 trillion, N298.49 billion from privatization proceeds, and N1.05 trillion drawdown on multilateral and bilateral loans secured for specific development projects.

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