PRELIMINARY REVIEW OF THE 2020 FEDERAL BUDGET ESTIMATES BY CENTRE FOR SOCIAL JUSTICE LIMITED BY GUARANTEE

1. INTRODUCTION

Centre for Social Justice (CSJ), a Nigerian Knowledge Institution welcomes the presentation of the 2020 Federal Budget Estimates by President Muhammadu Buhari on the 8^th day of October 2019 to the National Assembly (NASS) in accordance with section 81 of the Constitution of the Federal Republic of Nigeria 1999, as amended. The budget of sustaining growth and job creation projects expenditure in the sum of N10.330 trillion. The 2020 proposal represents an 11% increase when compared to the 2019 appropriation of N9.12trillion. The proposed retained revenue is N8.155 trillion and a deficit of N2.18 trillion which is 1.52% of the GDP. The key assumptions are the benchmark price of $57 per barrel of crude oil; daily oil production of 2.18 million barrels per day (mbpd) and an exchange rate of N305 to 1USD. The real GDP is expected to grow at 2.93% while inflation rate is projected at 10.81%.

FOR MORE DETAILS, CLICK TO DOWNLOAD:

[ddownload id=”148612″]