News Politics

Buhari’s 2018 Budget Increases By 15% to N8.59 Trillion

President Muhammadu Buhari has proposed the sum of N8.595 trillion for the 2018 budget, which represents about 15 per cent increase from this year’s N7.44trn budget, according to the details of the 2018-2020 Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) presented to the National Assembly on Tuesday.

The proposal seen by Daily Trust newspaper, is, however, subject to review by either the president or the lawmakers.

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According to the document, President Buhari predicated on an oil benchmark of $45 per barrel, with daily production output of 2.51 million barrels per day (bpd) and exchange rate figure at N305/$1.

Source:News Bulletin

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