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President Bola Tinubu, yesterday, signed the adjusted N28.78 trillion budget into law, an action that may have reset the budget cycle to January-December.
The amount is about 32 per cent higher than the original 2023 budget (N21.83 trillion), excluding the supplementary and subsequent adjustment. But in real terms, the budget is far lower than that of last year. For instance, naira has witnessed over 50 per cent depreciation in the past one year. Hence, last year’s budget, which was about $49 billion, is over 30 per cent higher than the dollar equivalent of the 2024 budget (about $32 billion).
At 28.2…
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