Update 1: 2018 budget: Buhari projects N2.442tr oil revenue

President Muhammadu Buhari said Nigeria expects to generate N2.442 trillion from oil revenues. The President on Tuesday proposed N8.612trillion as 2018 budget estimates.

This is against N7.441 trillion for the 2017 Appropriation Act, showing a difference of N1.171 trillion or 15.5 percent.

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Addressing a joint session of the National Assembly on Tuesday in Abuja, the President said a total sum of N350 billion proposed for special interventions (recurrent); N2,597,246,628,719 for capital expenditure while deficit is pegged at N2,948,777,905,500 (2.61%).

 

 

Details later…