BREAKING: President Buhari proposes Budget Estimate of N8.83 trillion For Nigeria for 2019

December 19, 2018Kemi Busari

FILE PHOTO: President Muhammadu Buhari presenting the Budget to the National Assembly
Muhammadu Buhari

President Muhammadu Buhari has proposed a budget of N8.83 trillion for 2019.

The president presented the budget at a joint session of the National Assembly on Wednesday.

The proposed budget shows that about a quarter of the sum (N2.14 trillion) will be used for debt servicing while capital expenditure is expected to gulp N2.031 trillion.

Breakdown of the Estimate:

Recurrent – N4.04 trillion
Debt service – N2.14 trillion
Statutory transfer – N492.36 billion
Sinking fund – N120 billion
Capital expenditure – N2.031 trillion

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