President Buhari signs the N 8.9 trillion 2019 budget into law   


27 May 2019 :Ahead of the 29 May inauguration, Nigerian President Muhammadu Buhari signed the N8.9 trillion ($29 billion) budget for 2019 into law. The signing happened at the mini-conference hall at the State House, Abuja, the nation's capital on Monday.


The budget was jacked up by N 10 billion by the parliament to reach N8.92trillion. The reason given for the rise was to increase the security expense , to aid the government combat increasing militancy and kidnapping in Africa's most populous nation.


Quick snapshot of the 2019 Budget:


1) Crude production of 2.3 million barrels production per day, assuming the oil price at $60 per barrel


2) Exchange rate of N305 to the dollar – the official market value of the local currency


3) Inflation Rate of 9.98%.


4) A projected Real GDP growth of 3.01% after a positive growth of 1.93% in 2018 amid recovery global oil prices and production was recorded


On Wednesday, President Muhammadu Buhari will be inaugurated for another four-year term after winning re-election in February riding on the promise to revive the economy, improve security and tackle corruption.


Reporting for EasyKobo on Monday , 27 May 2019 in Lagos, Nigeria

Copyright @ 2010-2019 Easykobo.com by Naija infotech & solar energy ltd. All rights reserved