– As Nigerians get ready for 2019 general elections, a budget of N8.83 trillion has been proposed for 2019 by President Muhammadu Buhari
– The president presented the budget to a joint session of the National Assembly on Wednesday, December 19
– About N2.14 trillion will be used for debt servicing while N2.031 trillion will be used for capital expenditure
President Muhammadu Buhari on Wednesday, December 19, proposed a budget of N8.83 trillion for 2019 to a joint session of the National Assembly, saying the budget was prepared after wide consultations.
According to the budget, about a quarter of the sum (N2.14 trillion) will be used for debt servicing while N2.031 trillion will be used for capital expenditure, Premium Times reports.
We gathered that proposed recurrent expenditure is N4.04 trillion, statutory transfer is N492.36 billion, there is a sinking fund of N120 billion, while capital expenditure is N2.031 trillion.
Peoples Democratic Party (PDP) lawmakers welcomed President Muhammadu Buhari to the National Assembly with protest songs while their counterparts from the ruling party, All Progressives Congress (APC), were busy cheering him.
The PDP lawmakers were singing “Freedom comes with Struggle”, while the APC lawmakers were chanting “Sai Baba” as the president made his way to the podium to present the budget.
During his presentation, the cheers and jeers continued as the PDP lawmakers booed and the APC ones clapped to overshadow the jeers.
Meanwhile, It was previously reported that Senator Godswill Akpabio of the All Progressives Congress said that the 2019 budget presented to the National Assembly by President Muhammadu Buhari on Wednesday, December 19, would revive the decayed infrastructure in the country.
Akpabio made the remark in an interview with journalists after President Buhari presented the appropriation bill to the National Assembly in Abuja.
The lawmaker said: ”The good thing about today’s budget presentation is that there is hope that there is going to be what I will call a rejuvenation in terms of infrastructural decay in Nigeria.
”I believe Nigerians are very proud today that they have a government, they have a president who is very determined to change not just the mental psyche of the Nigerian child but to change the face of infrastructure in the country.
“You would have noticed something about President Buhari quite unlike what happened in the past when we used to have so much of recurrent expenses sometimes up to 70 or 78 per cent.
”There was never a time under the PDP administration that we have more than 23 per cent on capital expenses, but look at the number of capital projects he rolled out today.
”That never happened before and that was why almost all the infrastructure died and we did not even have money for maintenance of infrastructure.”