A business advisory consultant, Wole Ogundare, on Saturday, revealed that the 2024 budget proposed by President Bola Tinubu does not inspire hope when the projected GDP growth rate is compared to the population growth rate.
Ogundare led this out during an interview on Channels TV, where he tagged the appropriation ‘budget of coasting along.’
He said: “When you look at the assumptions, the first thing I typically look at is the growth rate. So the macroeconomic framework tends to force you to look at the growth rate. The President projected a 3.76 growth rate; if you look at that growth rate, how does it really make sense?
“You compare it to the population growth rate in Nigeria. Our population growth rate today is about 2.5, so if you look at a 2.5 population growth rate relative to a 3.76 GDP growth, it tells you immediately that this is not a budget of hope, it is a budget of coasting along. Let us just coast along for now.