The Minister of Budget of Nigeria indicated on Monday, October 16, 2023, that the country plans to spend 34 billion dollars for the 2024 budget. Nigeria will base its spending on an oil price of $73.96 at an exchange rate of 700 naira to the dollar

President Bola Tinubu is trying to revive Nigeria's economy. The country's federal government plans to spend $34 billion in 2024. In fact, the 2024 budget approved on Monday is almost a fifth higher in nairas than the 2023 budget. According to the Nigerian Minister of Budget and National Planning Nigerian Minister of Budget and National Planning, this envelope should allow growth of 3.7% in 2024, a figure higher than the 2.9% forecast by

Nigeria has set a 2024 spending target of producing 7.7 million barrels of oil per day, representing an increase of 31% over current production levels.