Lawmakers boo, jeer Buhari as he presented N8.83 tr 2019 budget, pegs oil price at 60USD per barrel
Nigeria’s President Muhammadu Buhari on Wednesday presented proposed N8.83 trillion 2019 budget at a joint-session amidst booing and jeering coming from possibly members of the opposition parties and the ruling party respectively.
The budget put oil price benchmark at $60USD at the exchange rate of N305 to $1USD
The proposed budget shows that about a quarter of the sum (N2.14 trillion) will be used for debt servicing while capital expenditure is expected to gulp N2.031 trillion. Further breakdown are: Recurrent – N4.04 trillion; Debt service – N2.14 trillion; Statutory transfer – N492.36 billion; Sinking fund – N120 billion; Capital expenditure – N2.031 trillion.
It is less than two months to the February 2019 date when Nigeria, will go to polls to elect their president.
There have been various security reports concerning the election, mostly pointing at violence or even no election.
Last night, former Chief of Defence Staff who served under the opposition Peoples Democratic Party (PDP) government led by Goodluck Jonathan, Air Chief Marshal Alex Badeh, was killed by yet to be identified gunmen.
Badeh was retired in 2015. Reports say Badeh was killed in an ambush outside the capital, Abuja while he was going home from his farm.
Air force spokesman Ibikunle Daramola said in a statement that Badeh’s vehicle “was attacked while returning from his farm along Abuja-Keffi Road”.
It is unclear whether it was a targeted or random killing.
Badeh is one of the opposition members who are on trial for money-laundering – allegations he denied.
Nigeria’s Economic and Financial Crimes Commission (EFCC) alleges he diverted Nigeria Air Force funds for his personal use.
His defence team had been expected to present their case in January, Nigeria’s Guardian newspaper reported.