President Bola Tinubu said the Federal Government will explore Public Private Partnership (PPP) to finance critical infrastructure listed in the 2024 budget estimates of N27.5trn.
The President stated this when he presented the budget proposal before a joint session of the National Assembly in Abuja on Wednesday.
Addressing the lawmakers, the President said, “Distinguished Senators and Honourable Members, in view of the limited resources available through the federal budget, we are also exploring Public Private Partnership arrangements to finance critical infrastructure.
“We, therefore, invite the private sector to partner with us to ensure that our fiscal, trade and monetary policies, as well as our developmental programs and projects succeed in unlocking the latent potential of our people and other natural endowments, in line with our national aspirations.”
The President urged the lawmakers to sustain the Jnauary-December 2024 fiscal calendar of the government through accelerated passage of the proposal.
“As you consider the 2024 Budget estimates, we trust that the legislative review process will be conducted with a view to sustaining our desired return to a predictable January-December fiscal year.
“I have no doubt that you will be guided by the interest of all Nigerians. We must ensure that only projects and programs with equitable benefits are allowed into the 2024 Budget. Additionally, only projects and programs which are in line with the sectoral mandates of MDAs and which are capable of realizing the vision of our Government should be included in the budget,” he said.