2024 budget: History will honour Tinubu if… - Lawyer

A Lagos-based constitution lawyer, Mr. Jide Ologun, says history will honour President Bola Tinubu if he walks his talks on the N27.5 trillion Appropriation Bill for 2024.

Ologun, a former chairman of the Nigerian Institute of Public Relations (NIPR), Ikeja Branch, and public affairs analyst, made this remark in an interview with the newsmen on Friday in Lagos.

The social commentator said that Nigerians were eagerly waiting for the hope that Tinubu promised them through proper implementation of the budget and other people-oriented programmes.

Ologun said: “Many budget presentations have been made over the years in our great nation, with executive and legislative glamour.

“For the leadership, so much display of accolades, but for the citizens, so much anxiety and yearning for good governance dividends.

“If the President walks his talk, he will surely be honoured by history.

“Otherwise, we may have the manifestation the wise word of Aesop: ‘After all is said and done, more is said than done.'”

The legal practitioner, however, expressed concerns in three areas of the bill, namely the budget deficit, the proposed heavier tax drive, and borrowings.

According to him, the nation is already under a heavy yoke of indebtedness, marked by a high inflation rate and chronic hardship.

He said that many stakeholders were still seeking explanations on the appropriation of the savings from the terminated fuel subsidy.

Ologun said: “While the President and Commander-in-Chief have promised “renewed hope," many are yearning for positive improvements.

“The ball is in the court of the President to lead his team to reposition Nigeria on the part of prosperity, peace, and a secured future.

“A golden opportunity he (Tinubu) has been offered by fate.

“By and large, the nation’s revival can only be driven by redirecting efforts towards enhanced productivity and minimising consumption culture.”

Supreme News recalls that 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.

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 percent, which is higher than the forecast 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.

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.