Christened
‘Budget of consolidation,’ el-Rufai said it was structured to complete ongoing
and other projects the government would be undertaking.
He said in
keeping with the tradition of the government, the budget maintained
a priority for capital projects with a vote of N131.bn representing 60.54
per cent, while the recurrent expenditure was N85,440,998,051.95 representing 39.46
per cent.
“The 2018
revenue and expenditure estimates are based on a robust medium-term expenditure
framework, which assumes a $42 benchmark price for oil at production levels of
1.8 million barrels per day, 17.5 per cent inflation, 1.9 per cent projected
real GDP growth and an exchange rate of N305 to a Dollar,” he said.
He added
that at N51.4bn, education, health and social development received 39.2 per
cent of the N131.1bn capital budget; education got 25 per cent at N33bn,
while health was awarded N17bn (12 per cent) of capital.
The Speaker
of the state assembly, Aminu Shagali, while commending the governor for his
timely presentation, said he and his colleagues would scrutinise the draft
budget for quick passage into law.
Source: punchng
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