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President Muhammadu Buhari, on Tuesday, has formally presented an N8.6 trillion 2018 budget, to a joint session of the National Assembly.
Dubbed the ‘budget of consolidation’, the budget was about 16 percent increase from the N7.44 trillion appropriated in 2017.



Buhari announced that the budget is projected at an oil price of $45 per barrel, and an estimate of 2.3 million barrels per day.
He added that the budget is further projected on an exchange rate of N305 to $1, a real Gross Domestic Growth of 3.5 percent, and an inflation rate of 12.4 percent.
At present, domestic debts account for about 79% of the total debt. We will reduce this to 60% in 2018, and increase external to 40%.
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