The Social Democratic Party has said President Bola Tinubu’s 2024 Appropriation Bill of N27.5 trillion should truly renew Nigerians’ hopes.

The South-West zonal Secretary of the party, Mr Femi Olaniyi, said on Thursday in Lagos that there must be a departure from the non-performing budgets of the past.

Applauding Mr Tinubu’s focus on internal security and economic restoration, Mr Olaniyi said the president’s plan to tackle unemployment, inflation and poverty were commendable.

“The 2024 Appropriation Bill is truly remarkable because of its focus on internal security and economic revamping to address galloping inflation and threatening poverty.

“We are hopeful that this budget will truly renew the hope of Nigerians as we have seen numerous budgets in the past without corresponding improvement in the wellbeing of the people. We are truly optimistic for better budget performance with Tinubu’s ingenuity. He did it in Lagos State before; he can do it again.

“This budget should and must not fail to rejig this country and reposition it,’’ he said.

He noted that the 2024 budget addressed key sectors and needs of the people, adding that with diligent implementation strategies, Nigerians would soon rejoice.

Mr Olaniyi noted also that national defence and internal security, job creation, macro-economic stability, investment environment optimisation, human capital development were the hallmarks of the budget.

Notable also in the 2024 Budget of Renewed Hope are poverty reduction and social security, he said.

Mr Olaniyi said the SDP was fully prepared to support Mr Tinubu’s administration to build a prosperous Nigeria that would create happiness for all.

The President presented an Appropriation Bill of N27.5 trillion, tagged: “Budget of Renewed Hope’’ to the National Assembly on Wednesday.

He said at the presentation that the government would focus on ensuring value for money, greater transparency, and accountability.

He assured that the government would also work more closely with development partners and the private sector for effective budget performance.

Mr Tinubu said also that his administration would implement business and investment-friendly measures for sustainable growth, expecting the economy to grow by a minimum of 3.76 per cent, which is higher proposed world average.

The 2024 budget was benchmarked on a conservative oil price of 77.96 dollars per barrel and a daily oil production estimate of 1.78 million barrels.

Mr Tinubu said the benchmark was adopted after a careful review of global oil market trends. The President added that an exchange rate of N750 to the dollar was also adopted for the 2024 budget.

(NAN)