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Buhari Presents N8.83tr 2019 Budget, As Lawmakers Boo

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President Muhammadu Buhari has proposed N8.83 trillion naira budget for 2019 to the joint session of the National Assembly as Lawmakers booed Mr. President.

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 2019 budget breakdown.

Recurrent – N4.04 trillion

Debt service – N2.14 trillion

Statutory transfer – N492.36 billion

Sinking fund – N120 billion

Capital expenditure – N2.031 trillion

More details will follow…


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