Gist36.com - Nigerian Entertainment, Politics and Breaking News Platform.
President Muhammadu Buhari amidst jeers from opposition has presented his proposed 2019 budget to the National Assembly.
The president proposed the N8.8trillion budget today before the joint session of the assembly.
The president who did not fail to list his achievements as he proposed the budget.
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.
The 2019 budget breakdown include:
Recurrent – N4.04 trillion
Debt service – N2.14 trillion
Statutory transfer – N492.36 billion
Sinking fund – N120 billion
Capital expenditure – N2.031 trillion