PRELIMINARY REVIEW OF THE 2019 FEDERAL APPROPRIATION BILL

1. Introduction
Centre for Social Justice (CSJ), a Nigerian knowledge institution welcomes the presentation of the 2019 Federal Budget by President Muhammadu Buhari on the 19th day of December 2018 in accordance with section 81 of the Constitution of the Federal Republic of Nigeria 1999, as amended. The budget expenditure is in the sum of N8.83 trillion including grants and donor funds of N209.82billion. The 2019 proposal represents a 3.18% decrease when compared to 2018 appropriation of N9.12trillion. The proposed revenue is N6.97 trillion and a deficit of N1.86 trillion. The key assumptions are the benchmark price of $60 per barrel of crude oil; daily oil production of 2.3 million barrels per day (mbpd) and an average exchange rate of N305 to 1USD. The real GDP is expected to grow at 3.01% while inflation rate is projected at 9.98%.

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