Buhari Presents N8.83trn Budget for 2019

President Muhammadu Buhari has presented N8.83 trillion naira 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 present 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 per cent inflation rate: 9.98 per cent.

According to the president, who gave the figure Wednesday during the 2019 budget presentation revealed that the amount is higher than the N8.6 initially proposed.

The budget is predicated on $68 per barrel of oil benchmark at 2.3m litres per day, a GDP growth rate of 3.01 percent and inflation rate of 9.98 percent.

Buhari also said, NNPC has been directed to take all measures to achieve the targeted 2.3m oil output per day.

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