Nigeria: President Buhari Presents $ 28.8 Billion Budget for 2019
Nigerian President Muhammadu Buhari presented on December 19, a budget of 8.83 billion naira ($ 28.80 billion) for the year 2019 in Parliament. Africa's largest oil producer's record is below the budget of $ 9.12 billion adopted for the year 2018.
The 2019 budget corresponds to an average production of 2.3 million barrels per day, a price of 60 dollars and an exchange rate of 305 naira per dollar.
Buhari told MPs 2.28 billion naira and 2.1 billion naira in debt service.
"It has been said that we remain sovereign, that we must increase our ability to mobilize our domestic resources so that we reduce our debt," he said.
Muhammadu Buhari, 75, presented the state budget for 2019 in an electric atmosphere. His speech was interspersed with taunts and hisses.
A month of presidential elections, the economy is at the heart of the public debate in Nigeria. The outgoing president, who had focused his campaign on his 2015 presidential economy, saw in 2016, his term was the first recession in a quarter of a century. The recovery started in 2017 remains slow.
According to figures released on December 10 from the National Statistical Office, the gross domestic product (GDP) of the continent's most populous country 1.81% in the third quarter of 2018 2017
The Nigerian economy had already grown by 1.50% in the first quarter of 2018 and 1.95% in the first quarter.
Atiku Abubakar, a critic of the economic management of his rival, is very promising for the economy on track and dubbing the country's GDP by 2025.
The 2019 budget corresponds to an average production of 2.3 million barrels per day, a price of 60 dollars and an exchange rate of 305 naira per dollar.
Buhari told MPs 2.28 billion naira and 2.1 billion naira in debt service.
"It has been said that we remain sovereign, that we must increase our ability to mobilize our domestic resources so that we reduce our debt," he said.
Muhammadu Buhari, 75, presented the state budget for 2019 in an electric atmosphere. His speech was interspersed with taunts and hisses.
A month of presidential elections, the economy is at the heart of the public debate in Nigeria. The outgoing president, who had focused his campaign on his 2015 presidential economy, saw in 2016, his term was the first recession in a quarter of a century. The recovery started in 2017 remains slow.
According to figures released on December 10 from the National Statistical Office, the gross domestic product (GDP) of the continent's most populous country 1.81% in the third quarter of 2018 2017
The Nigerian economy had already grown by 1.50% in the first quarter of 2018 and 1.95% in the first quarter.
Atiku Abubakar, a critic of the economic management of his rival, is very promising for the economy on track and dubbing the country's GDP by 2025.
Comments
Post a Comment