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Buhari presents N8.8trn Budget to the National Assembly For 2019

President Muhammadu Buhari has proposed N8.83 trillion budget for 2019 to the joint session of the National Assembly.

The presentation of the budget was presented under a rowdy session with opposition lawmakers repeatedly booing the President as he listed his achievements.

The budget proposal was prepared based on the following assumptions: Oil price: $60 per barrel of oil production rate: 2.3 million barrels per day exchange rate: N305 to $1 Real GDP growth: 3.01 percent inflation rate: 9.98 percent.

Below is a part of the breakdown for 2019 budget

Recurrent – N4.04 trillion
Debt service – N2.14 trillion
Statutory transfer – N492.36 billion
Sinking fund – N120 billion
Capital expenditure – N2.031 trillion

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