Breaking: Buhari signs 2019 budget

President Muhammadu Buhari on Monday signed the N8.92 trillion, 2019 budget into law.

The budget was increased by about N10 billion, bringing the amount to N8.92 trillion, as against the N8.83 trillion presented by President Muhammadu Buhari.

The budget which was presented to the National Assembly on December 18, 2018, is coming about six months…

Highlights of the 2019 budget as approved by the National Assembly include the capital expenditure of N2.09tn, recurrent expenditure of N4.05tn, statutory transfers of N502bn, fiscal deficit of N1.9tn, and special intervention of N500bn.

The lawmakers also approved debt service of N2.25tn. Out of the figure, N1.7tn was approved for domestic debts, while the sum of N433bn was provided for foreign debts.

Similarly, the sum of N110bn was approved for a sinking fund to retire maturing debt obligations.

By Writer

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