President Buhari proposed N8.83 trillion budget for 2019 to the joint session of National Assembly on Wednesday 19th December 2018.
The details of the budget are given as follow. The 25% of the budget sum (N8.83 trillion) which amount to (N2.14 trillion) will be used for debt servicing and another 24% of the budget which amounts to N2.031 trillion goes for capital expenditure.
The sum of N4.04 trillion is tabled for recurrent expenditure, the statutory transfer is N492.36 billion, there is a sinking fund of N120 billion.
The budget was prepared on the assumption of $60 per barrel with crude oil production of 2.3 million barrels per day. The exchange rate is assumed at N305 to $1