President Buhari Submits 2018 Budget To NASS

08 November, 2017, 10:14 | Author: Hope Soto

Talking up the gains of his administration over the past two years while thanking Nigerians for their prayers during his extended medical vacation, President Buhari said the projected expenditure in the Budget of Consolidation would fast-track the much-needed economic recovery.

Nigerian president Muhammadu Buhari presented a record 8.6trn naira (£21.5bn) budget for 2018 on Tuesday to foster shaky growth in Africa's largest economy.

The three ministries will get money more than the 12 other sectors combined.

The president said the budget is projected at an oil price of $45 per barrel with the production estimate of 2.3 million barrels per day.

In an interview with PREMIUM TIMES, Toby Okechukwu, from Imo state, said the lawmakers were not happy with the pace of implementation of the 2017 budget.

Details of the budget proposal revealed that the Power, Works and Housing has the highest capital project proposal with N555.88 billion.

Argument Leads To Shots Fired Near TCU Campus
The suspect has not been identified, but authorities say he is a black male wearing a white shirt and black trousers . The shooter then got back into his shuttle and drove away from the scene, causing the TCU campus to go into lockdown.


Transportation sector comes second with a projected allocation of N263.10 billion for capital projects.

The Special Intervention Programme was allocated N150 billion while Defence, N145 billion.

Budget provision to the Niger Delta Development Commission increased to N53.89 billion from N34.2 billion in 2017.

"Of the amount, the sum of 6.387 trillion Naira is expected to be realised from oil and gas sources".

"At present, domestic debts account for about 79 percent of the total debt".

The president said that non-oil and other revenue sources of N4.165 trillion would include share of Companies Income Tax (CIT) of N794.7 billion, Value Added Tax (VAT) of N207.9 billion as well as Customs and Excise Receipts, N324.9 billion.

Recommended:



Popular

Ex-Husker Alex Gordon wins his fifth Gold Glove
San Francisco Giants shortstop Brandon Crawford won his third Gold Glove award on Tuesday, Major League Baseball announced . That's where Rockies infielders Nolan Arenado and DJ LeMahieu ply their trade, play after play, game after game.

Shooter in Custody, Trooper Being Treated for Gunshot Wounds
The suspect fled the scene in a blue Pontiac sedan and drove himself to an area hospital, where he was taken into police custody. Investigators said the man was free to go, but then he flagged the troopers down again and asked about paying the citation.

Jose Mourinho's representatives meet with PSG
Chelsea ran out 1-0 winners over Manchester United on Sunday at Stamford Bridge courtesy of Alvaro Morata's 55th minute header. It will be intriguing to see whether Manchester United make moves in the winter transfer window.

Ezra Miller on Zack Synder's 'lighter' Justice League
He said previously: "The tone of the film - I'm not going to say it is light, because that would be doing it an injustice". The film's predecessor, 2016's " Batman Vs.

Scottish Parliament evacuated after 'white powder sent to MSP'

Why sleep deprivation is worse than a hangover
Yet no legal or medical standards exist for identifying overtired drivers on the road the same way we target drunk drivers'. It found that taking getting behind the wheel while sleep-deprived could be just as risky as driving while intoxicated.

'Black Widow' sentenced to death in Japan
The 135-day trial was Japan's second-longest court case of its kind since 2009, when the nation instituted a judge-jury system. A Japanese court has sentenced a " Black Widow " who met wealthy partners via dating agencies and poisoned them with cyanide.

Breakthrough Test Means Waymo's Autonomous Cars Can Ditch Backup Drivers
Of course, Waymo is still being watched by an employee in the vehicle in case of an emergency. They hail the vehicles using a Waymo app, and being the trip onboard with a push of a button.

Want To Play, Raise Your Game, Chelsea Legend Tells David Luiz
Speaking after the match, Conte insisted the decision was tactical and had been vindicated by Christensen's performance. I was very happy for this. "Sometimes, I can make mistakes or sometimes I can do the best thing".

Slide-to-unlock patent battle: Apple wins $120 million from Samsung
But here's the amusing part: all the original phones involved in the battle have already been phased out of protection. Apple claimed that Samsung infringed on its patent by copying the feature in their Galaxy S lineup of smartphones.