Nigerian president unveils $34.8B spending plan focusing on security, stability

Nigerian President Bola Tinubu on Wednesday unveiled his 2024 spending plan, which he claims will sustain the country's “robust foundation for sustainable economic development."

Tinubu projected the economy would grow by at least 3.76% next year and listed infrastructure and social welfare programs among the government’s priorities to reduce hardship in the country of more than 210 million people.

During his six months in office, Tinubu introduced economic reforms that the government said would grow the economy and attract more foreign investment. Those reforms — including the removal of costly gas subsidies — have instead worsened the hardship for many in the West African nation where surging inflation of 27.3% is already squeezing families.