Nigerian President Muhammadu Buhari Wednesday formally presented N8.83 trillion federal government budget for 2019 to the joint session of the National Assembly for approval.
The 2019 budget is about 27 billion lower than the 2018 budget of N9.1 trillion.
Details of the proposed budget showed that it was based on crude oil benchmark price of $60 per barrel of oil and 2.3 million barrels per day.
Buhari pointed out that the budget is further predicated on an exchange rate of N305 to $1, a real Gross Domestic Growth of 3.01 per cent and inflation rate of 9.98 per cent.
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