Nigerian Government Proposes N8.73tr For 2019 Budget

Posted by African Examiner Featured, Latest Headlines, News Wednesday, October 24th, 2018

(AFRICAN EXAMINER) – The Federal Government FG has proposed a total of N8.73tr for 2019 budget.

Minister of Budget and National Planning, Senator Udoma Udo Udoma, disclosed this Wednesday in State House Abuja, at the end of the weekly Federal Executive Council (FEC) meeting.

Senator Udoma explained that FEC has pegged as benchmark, the price of crude oil per barrel at $60, as well as exchange rate at $305, while daily crude oil production is put at 2.3m barrels per day.

The Minister added that the Medium Term Expenditure Framework (MTEF) for 2019 to 2021 has been approved by FEC, adding that it would soon be submitted to National Assembly (NASS) for further consideration.

The 2018 Appropriation Bill as signed into Law late June this by President Muhammadu Buhari is N9.12 trillion.