President Muhammadu Buhari has proposed N8.83 trillion naira budget for 2019 to the joint session of the National Assembly.
The presentation of the budget was performed under a rowdy session with opposition lawmakers repeatedly booing the President as he listed his achievements.
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Thebudget proposal was prepared based on the following assumptions: Oil price: $60per barrel of oil production rate: 2.3 million barrels per day exchange rate:N305 to $1 Real GDP growth: 3.01 per cent inflation rate: 9.98 per cent.
Below are some of the breakdown of the 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