BREAKING: Buhari presents N8.6 trillion 2018 budget to National Assembly

President Muhammadu Buhari on Tuesday formally presented an N8.6 trillion 2018 budget to a joint session of the National Assembly.

Dubbed the ‘budget of consolidation,’ the budget was about 16 per cent increase from the N7.44 trillion appropriated in 2017.

Mr. Buhari announced that the budget is projected at an oil price of $45 per barrel and an estimate of 2.3 million barrels per day.

He added that the budget is further projected on an exchange rate of N305 to $1, a real Gross Domestic Growth of 3.5 per cent and inflation rate of 12.4 per cent.

Details later…