Connect with us

News

Bola Tinubu’s 2024 Budget Speech [Full Text]

Published

on

Tinubu
Share for social good

President Bola Tinubu, on Wednesday, presented the N27.5 trillion 2024 budget proposal to a joint session of the 10th National Assembly in Abuja — his first since assuming office exactly six months ago.⁣

Read the full speech below:

1. In furtherance of my sacred duties and obligations as President of the Federal Republic of Nigeria, it is my honour to be here today to present my administration’s 2024 Budget Proposal to this Joint Session of the 10th National Assembly. This moment is especially profound and significant to me because it is my first annual budgetary presentation to the National Assembly.

2. Distinguished Senators and Honourable Members of the National Assembly, I commend your swift consideration and passage of the 2023 Supplementary Appropriation Bills and the 2024-2026 Medium Term Expenditure Framework and Fiscal Strategy Paper. Your prompt action underscores your devotion to economic development and to the greater welfare of our people. It also highlights your desire to work in close collaboration with the Executive branch. We do not serve ourselves. We must always strive to work together to serve and benefit the people of our beloved country.

FIRS

3. I am confident that the National Assembly will continue to work closely with us to ensure that deliberations on the 2024 Budget are thorough but also concluded with reasonable dispatch. Our goal is for the Appropriation Act to come into effect on the 1st of January 2024.

4. It is, by now, a matter of recorded history that my very first fiscal intervention as President of this great nation was to end the fuel subsidy regime which had proven to be so harmful to the overall health of our national economy. The second was to negotiate and subsequently present a supplementary budget to enable my government to fund the items needed to restore macro-economic stability and mitigate the harsh impact of subsidy removal.

READ ALSO

5. The third was to secure a second supplementary budget, this time to enable us to keep our promises to promote national security, invest in infrastructure and provide much-needed support to the most vulnerable households in our society.

6. In swearing in my cabinet and reflecting on the unique challenges facing us, I invited the Ministers to imagine that we are attempting to draw water from a dry well. Today, I stand before you to present our Budget of Renewed Hope; a budget which will go further than ever before in cementing macro-economic stability, reducing the deficit, increasing capital spending and allocation to reflect the eight priority areas of this Administration. The budget we now present constitutes the foundation upon which we shall erect the future of this great nation.

PREVAILING ECONOMIC ENVIRONMENT

7. Economic conditions remain challenging both abroad and at home. Despite lingering post-COVID supply and production bottlenecks, armed conflict in various parts of the world and restrictive monetary policies in major economies, we expect global growth to hover around 3.0 percent in 2024. This relatively low rate has significant implications for our economy due to our current reliance on importation.

8. Distinguished Senators, Honourable Members: despite the global headwinds, the Nigerian economy has proven resilient, maintaining modest but positive growth over the past twelve months.

9. Inflation has trended upward due to weak global conditions. 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.

10. The Budget proposal meets our goal of completing critical infrastructure projects which will help address structural problems in the economy by lowering the costs of doing business for companies and the cost of living for the average person, The Honourable Minister of Budget and Economic Planning will provide full details of this proposal.

11. Distinguished Senators and Honourable Members, an aggregate revenue of 11.045 trillion naira was projected to fund the 2023 Budget of 24.82 trillion naira with a deficit of about 6.1 percent of GDP.

12. As of September 30, the Federal Government’s actual aggregate revenue inflow was 8.65 trillion naira, approximately 96 percent of the targeted 8.28 trillion naira.

13. Despite the challenges, we continue to meet our obligations.

THEME AND PRIORITIES OF THE 2024 BUDGET

14. Distinguished Senators, Honourable Members, permit me to highlight key issues relating to the budget proposals for the next fiscal year. The 2024 Appropriation has been themed the Budget of Renewed Hope. The proposed Budget seeks to achieve job-rich economic growth, macro-economic stability, a better investment environment, enhanced human capital development, as well as poverty reduction and greater access to social security.

15. Defence and internal security are accorded top priority. The internal security architecture will be overhauled to enhance law enforcement capabilities and safeguard lives, property and investments across the country.

16. Human capital is the most critical resource for national development. Accordingly, the budget prioritizes human development with particular attention to children, the foundation of our nation.

17. To improve the effectiveness of our budget performance, the government will focus on ensuring value for money, greater transparency and accountability. In this regard, we will work more closely with development partners and the private sector.

18. To address long-standing issues in the education sector, a more sustainable model of funding tertiary education will be implemented, including the Student Loan Scheme scheduled to become operational by January 2024.

YOU MAY LIKE

19. A stable macro-economic environment is important to catalyse private investment and accelerate economic growth. We have and shall continue to implement business and investment-friendly measures for sustainable growth.

20. We expect the economy to grow by a minimum of 3.76 percent, above the forecasted world average. Inflation is expected to moderate to 21.4 percent in 2024.

21. In preparing the 2024 Budget, our primary objective has been to sustain our robust foundation for sustainable economic development. A critical focus of this budget and the medium-term expenditure framework is Nigeria’s commitment to a greener future.

22. Emphasizing public-private partnerships, we have strategically made provisions to leverage private capital for big-ticket infrastructure projects in energy, transportation and other sectors. This marks a critical step towards diversifying our 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.


Share for social good
CLICK TO GET A WhoGoHost Hosting PLAN

Jobs

Job Vancancy: Moniepoint Job Vacancies in Abuja and North Central Nigeria

Published

on

Research Interviewers Job in Nigeria – Jhpiego Hiring Across 36 States & FCT
Share for social good

Leading Nigerian fintech company Moniepoint has announced six new job openings across Abuja and several states in the North Central region, expanding its workforce in compliance, technical operations, sales, and security management.

The vacancies cut across multiple departments, reflecting the company’s continued growth in agent banking, SME solutions, and digital financial infrastructure services.

Available Positions

Field Risk & Internal Control Officer (North Central)

  • Team: Compliance
  • Location: FCT, Nigeria
    The role focuses on monitoring operational risks, enforcing internal control standards, and ensuring compliance across field operations in the region.

Apply Here

Hardware Engineer

  • Team: Advanced Technical Operations
  • Location: FCT, Nigeria
    Successful candidates will handle hardware installation, maintenance, troubleshooting, and technical support for field operations.

Apply Here

FIRS

Implementation Officer (North Central)

  • Team: Moniebook Business Management Tools
  • Locations: Benue, Plateau, FCT
    This role involves onboarding merchants and ensuring smooth deployment of Moniepoint’s business tools across assigned regions.

Apply Here

Inbound Sales Officer (Abuja)

  • Team: Moniebook Business Management Tools
  • Location: FCT, Nigeria
    The position focuses on handling inbound customer inquiries, converting leads, and supporting sales growth for Moniepoint business solutions.

Apply Here

Regional Lead, Corporate Security (North)

  • Team: Moniepoint MFB
  • Locations: FCT, Kano
    The role oversees corporate security operations, risk prevention strategies, and protection of company assets across northern Nigeria.

Apply Here

Regional Lead, Field Risk & Internal Control (North)

  • Team: Compliance
  • Location: FCT, Nigeria
    This leadership position is responsible for coordinating regional risk management teams and strengthening internal control systems.

Apply Here

The hiring drive comes as fintech companies in Nigeria continue to expand their physical and digital operations across underserved regions, particularly in agent banking and SME support services.

Moniepoint, one of the fastest-growing fintech firms in the country, has steadily increased recruitment in technical, compliance, and field operations roles over the past year.

With these openings, Moniepoint is strengthening its presence in Abuja and northern Nigeria while scaling its financial services infrastructure across the country.

Follow BONA NAIJA for more


Share for social good
CLICK TO GET A WhoGoHost Hosting PLAN
Continue Reading

Business

Nigerians Slam Moniepoint CEO Over ‘Talent Quality’ Remarks Amid Hiring Debate

Published

on

Share for social good


Comments by Tosin Eniolorunda, CEO of Moniepoint, have sparked a heated debate online after he questioned the quality of Nigeria’s talent pool while discussing his company’s hiring challenges.


Speaking at the The Platform Nigeria on May 1, Eniolorunda said the fintech firm had advertised over 500 vacancies since 2024 but struggled to find qualified local candidates. He revealed that by 2025, the company reversed its local-only hiring policy due to the shortage.


I used to feel Nigerians are really bright… but we are still struggling to find Nigerians to fill those roles. They don’t meet global standards,” he said, attributing the gap to factors such as social media distractions, cybercrime, hookup culture, and weaknesses in the education system.

Backlash and Counterarguments



His remarks triggered swift backlash from Nigerians, particularly within the tech community, with many accusing local companies of failing to invest in talent development.

FIRS


Critics argued that unlike global firms, Nigerian tech companies rarely offer structured, paid internship programs or training pipelines to groom young professionals. Some pointed to examples of international companies like Oracle Corporation, where internships and early talent programs serve as entry points into full-time roles.


Others shared personal experiences of being rejected by local firms despite strong resumes, while noting that Nigerian professionals continue to secure roles in global companies such as Amazon.


A recurring sentiment online was that many Nigerian companies demand “global-standard talent” but are unwilling to offer competitive compensation or career development opportunities.

Industry Perspective



Supporters of Eniolorunda’s stance, however, pointed to the realities of scaling a fast-growing fintech company in a competitive global market. They cited brain drain, limited specialized skills, and increasing demand for top-tier expertise as genuine challenges facing Nigerian startups.


Analysts say the controversy highlights a broader issue within Nigeria’s tech ecosystem balancing expectations between employers and job seekers, while addressing gaps in education, training, and remuneration.



The debate mirrors ongoing tensions around talent development, compensation, and hiring practices in Nigeria’s fast-evolving tech sector.

As companies expand and compete globally, the question of how to build, retain, and fairly reward talent is likely to remain a central issue.

i

Follow BONA NAIJA for more


Share for social good
CLICK TO GET A WhoGoHost Hosting PLAN
Continue Reading

News

Outrage as Soldier Assaults Journalist Over Traffic Dispute in Lagos

Published

on

Share for social good

A Nigerian soldier has allegedly assaulted a journalist, Fakoyejo Olalekan, during a traffic control operation in Lagos State, triggering widespread public condemnation after video footage of the incident surfaced online.
The clash occurred on May 2 near Pleasant Event Centre in Ikeja, where personnel of the Nigerian Army were reportedly directing heavy traffic.


According to eyewitness accounts, the altercation began after Fakoyejo remarked to passengers that a soldier’s handling of a motorcyclist had caused an unnecessary delay. The comment allegedly angered one of the soldiers, who ordered everyone out of the vehicle.


The situation escalated when the soldier reportedly slapped and shoved the journalist, and briefly reached for a piece of wood before bystanders intervened to prevent further escalation.


Video clips circulating on social media show at least two soldiers involved in the confrontation. During the incident, Fakoyejo’s phone screen was also seen shattered on the pavement. No serious injuries were reported.

FIRS


The footage has since triggered widespread criticism online, with many users calling for accountability and questioning the conduct of military personnel during civilian traffic enforcement duties.


As of May 4, the Nigerian Army had yet to issue an official response despite being tagged in multiple public complaints and posts about the incident.

Follow BONA NAIJA for more


Share for social good
CLICK TO GET A WhoGoHost Hosting PLAN
Continue Reading

News

Outrage as DSS Arraigns Chidiebere Justice Mark Over Alleged Cybercrime, Military Incitement

Published

on

Share for social good

The Department of State Services (DSS) on Monday arraigned Chidiebere Justice Mark, popularly known as Justice Crack, before the Federal High Court sitting in Abuja on a three-count charge bordering on cybercrime and alleged incitement against the military.

Mark was earlier arrested by the Nigerian Army over a viral video and accompanying statements he shared via his X (formerly Twitter) handle, @JusticeCrack, in which he reportedly alleged inadequate feeding of Nigerian soldiers.

According to the charge sheet, the defendant is accused of knowingly circulating false information intended to provoke public annoyance, ill will, and hatred among citizens.

FIRS

Details of Charges

Count One alleges that on April 28, 2026, Mark disseminated information on social media regarding poor feeding conditions of Nigerian Army personnel, which authorities claim he knew to be false. The offence is said to contravene Section 24(1)(b) of the Cybercrimes (Prohibition, Prevention, etc.) Act, 2015 (as amended).

Count Two states that the accused published a viral video and statements about the Nigerian Army that triggered widespread negative reactions and were likely to cause fear and a breach of peace. This charge is brought under Section 59 of the Criminal Code Act.

Count Three accuses Mark of attempting to commit a felony by circulating what authorities described as derogatory content about the Army, also linked to potential public unrest, punishable under Section 509 of the Criminal Code Act.

Court Proceedings

Presiding judge, Joyce Abdulmalik, adjourned the case to May 25, 2026, for trial and possible hearing of a bail application. The court also ordered that the defendant be remanded in DSS custody pending further proceedings.

Public Reaction

The arraignment has sparked widespread reactions across social media, with civil rights advocates and concerned citizens debating issues around freedom of expression, national security, and the limits of online speech in Nigeria.

Follow BONA NAIJA for more


Share for social good
CLICK TO GET A WhoGoHost Hosting PLAN
Continue Reading

News

Nigerian Army Explains Arrest of Blogger ‘Justice Crack’, Cites Security Concerns

Published

on

Nigerian Army Clarifies Arrest of Justice Crack Over Alleged Incitement
Share for social good

The Nigerian Army has clarified the circumstances surrounding the arrest of social media influencer Justice Mark Chidiebere, popularly known as “Justice Crack,” following complaints raised online.

In a statement issued on May 2, 2026, and signed by Appolonia Anele, Acting Director of Army Public Relations, the military said the arrest was linked to an ongoing investigation into alleged violations of the Armed Forces’ social media policy and attempts to misinform the public.

According to the Army, the development began after some soldiers reportedly raised concerns about feeding and welfare issues, which were later shared on social media by Chidiebere.

FIRS

However, preliminary findings suggest that the influencer engaged the soldiers in conversations that went beyond welfare concerns, including discussions the Army described as bordering on subversion.

“Preliminary report reveals that the soldiers discussed a wide range of issues with Justice Chidiebere who seemed to be inciting soldiers to create discontent within the system,” the statement said.

The Army warned that any attempt by civilians to influence military personnel towards acts that could undermine discipline poses serious risks to national security.

“It is important to state that a situation where civilians cultivate vulnerable personnel towards acts of subversion has far-reaching implications on discipline and national security,” the statement added.

Following the development, Chidiebere was arrested alongside the soldiers involved. While the soldiers remain in military custody, he has been handed over to relevant civil authorities for further investigation and possible prosecution.

The Army reaffirmed its commitment to due process and the rule of law, stressing that all actions taken were within legal bounds.

“The Nigerian Army remains committed to the rule of law and will continue to collaborate with relevant agencies to ensure justice is served,” Anele stated.

The case has drawn public attention amid ongoing conversations about military welfare and freedom of expression on social media.

Follow BONA NAIJA for more


Share for social good
CLICK TO GET A WhoGoHost Hosting PLAN
Continue Reading
Advertisement

CONNECT ON FACEBOOK

Trending

[mc4wp_form id=21066]