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Buhari Proposes N8.8trn Budget For 2019

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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 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

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