On Wednesday, November 29, President Bola Tinubu gave the National Assembly a presentation on the 2024 budget appropriation. He also discussed the economic challenges his administration intends to tackle, starting with the recognition of the impact that the removal of fuel subsidies will have on the Nigerian people.
The president also tackled a critical issue that affects the country and its citizens: the issue of rising prices. The average Nigerian has been greatly concerned about the steady increase in the cost of necessities in their daily lives.
To arrest this situation, the president detailed the measures his administration plans to implement to mitigate this phenomenon, aiming to alleviate the burden on the Nigerian populace.
He said: “To contain the rising domestic prices, we will ensure effective coordination of fiscal and monetary policy measures, and collaborate with sub-national governments to address structural factors driving inflation in Nigeria.”
This was the president’s first annual budgetary presentation to the National Assembly.