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2024 Budget: FG to generate N298bn from sales of national assets

The federal government is looking to generate N298.4 billion in revenue from selling off certain government assets in 2024.

This is contained in a breakdown document of the 2024 appropriation bill.

The item listed as “Financing Item” was in the sectoral allocation details released by the Chairman, Senate Committee on Appropriations, Solomon Adeola.

The move is believed to be an attempt to finance public debts as well as reduce the fiscal burden on the part of the federal government.

The document also indicated that the government expects to generate N2.8 trillion from government-owned enterprises as a net surplus in the 2024 fiscal year.

The 2024 budget proposal of N27.5 trillion was presented to the National Assembly by President Bola Tinubu last Wednesday.

The budget christened “Budget of Renewed Hope” contains national revenue estimated at N18.32 trillion with a deficit of N9.18 trillion.

The federal government projects a revenue growth of 3.76% in the 2024 fiscal year.

While presenting the budget on Wednesday, the President noted that the purpose of the bill is to ensure macroeconomic stability, increase revenue, reduce deficit as well and increase capital expenditure and allocation to reflect the key priority areas of his administration.

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