 |
| Picture from 2016 budget |
President Muhammadu Buhari presented
the breakdown of the 2018 Appropriation Bill, while addressing a joint
session of the National Assembly on Tuesday 7th November 2017 by 2pm Nigeria
time.
President Buhari told the joint section that
the proposal is based on an oil benchmark of $45 per barrel, an oil production
rate of 2.3 million barrels per day, an exchange rate of 3.5 percent, inflation
rate of 12.4 percent and a real GDP growth of 3.5 percent.
The President stressed that out of the
N8.612tn, N3.494tn has been proposed for recurrent expenditure, and N2.428tn
for capital expenditure – excluding the capital component of statutory
transfers.
The APC administration led by Muhammadu
Buhari plans to use N2.014tn for debt service, N46bn for statutory
transfers and N220bn as sinking fund to retire maturing bonds and pay local
contractors.
The actual break down coming soon
Comments
Post a Comment