President Muhammadu Buhari has written the House of Representatives seeking to present the estimates of the 2018 budget to a joint session of the National Assembly on Tuesday, November 17, 2017.
In a letter made available to the Senate President Bukola Saraki and Speaker Yakubu Dogara, Buhari requested the indulgence of the two chambers of the National Assembly to allow him present the budget at 2.pm on November 7.
In the Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) presented to the National Assembly, the president proposed the sum of N8.6 trillion for 2018 budget.
The proposed amount, which is exactly N8.595trn, represents about 15 percent increase from the 2017 budget, which was N7.44trn.
Next year’s budget would be about N1.16trn above this year’s, if approved by the National Assembly.
The proposed budget is predicated on an oil benchmark of $45 per barrel, with daily production output of 2.51 million barrels per day (bpd), while the proposed exchange rate is N305/1$.
In the Medium Term Expenditure Framework (MTEF) and the Fiscal Strategy Paper (FSP) presented to the National Assembly, the president proposed the sum of N8.6 trillion for 2018 budget.
The proposed amount, which is exactly N8.595trn, represents about 15 percent increase from the 2017 budget, which was N7.44trn.
Next year’s budget would be about N1.16trn above this year’s, if approved by the National Assembly.
The proposed budget is predicated on an oil benchmark of $45 per barrel, with daily production output of 2.51 million barrels per day (bpd), while the proposed exchange rate is N305/1$.
Buhari to Present 2018 Budget on Tuesday
![Buhari to Present 2018 Budget on Tuesday]()
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