Accomplish Magazine January 2024

FEATURE / ANALYSIS
ANALYSING
NIGERIA 2024
NATIONAL
BUDGET TAGGED
‘RENEWED HOPE’
By Oluwatobi Ojabello
In the fiscal corridors of Nigeria’s governance,
President Bola Ahmed Tinubu has unveiled 2024
National Budget, christened ‘Renewed Hope’
beckoning both scrutiny and celebration.
Delving into the intricacies of
economic policy, this analysis aims to
unveil both the positive and negative
aspects woven into the financial fabric.
Despite the optimistic name ‘Renewed
Hope,’ underlying challenges such as
an 18-year high inflation rate of 27.33%,
naira devaluation, and 31.53% food
inflation, all pose significant economic
complexities. As earlier reported by
BusinessDay.
However, this analysis interprets
the basic variations distinguishing
this budget from its predecessors,
shedding lights on promises, hurdles,
and narratives shaping Nigeria’s
economic destiny.
The 2024 budget, specifically
named ‘Renewed Hope,’ unfolds
key themes, each contributing to
the nation’s economic landscape.
Delving into the intricacies of this
financial masterpiece, it’s evident the
government strategically emphasises
areas for a revitalised and resilient
Nigeria.
20 | Accomplish Magazine