The Nigerian Economic Summit Group has picked holes in the country’s 2024 budget of President Bola Ahmed Tinubu.
NESG disclosed this on Thursday in its sectoral analysis of the 2024 budget, faulting the 3.5 trillion allocation to the health and education sectors.
DAILY POST reported that Tinubu presented a N27.5 trillion budget to the National Assembly on Wednesday last week.
The sector-by-sector budget allocations christened ‘Renewed Hope’ showed that security and defence received N6.75 trillion, twice the figure for education and health.
According to the Chairman of NESG, Niyi Yusuf, health and education allocations were lower in the 2024 Appropriation Bill than their respective levels in the 2023 approved budget.
He explained that the budget allocation to both sectors was far below the global benchmarks.
“The allocations to the health and education sectors are far below the global benchmarks of 15 per cent (2001 Abuja Declaration) and 15- 20 per cent (UNESCO standards), respectively,” he said.
