The 2019 Budget presentation is still ongoing but it appears President Muhammadu Buhari will be having a long day at impressing the members of the National Assembly.

The president who arrived at 11am and presented the budget before a joint session of the Senate and House of Representatives, was intermittently cheered and booed by lawmakers.

President Buhari opened the Next Level Budget presentation listing some of the major infrastructure projects in the country, showing how every part and region of this country is covered amidst cheers and boos.

He said the federal govt and the National Economic Council are working to forestall the lingering farmers/herders crisis.

Buhari saluted the armed forces for their service in battling insurgency in the north-east.

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He said the Gross Domestic Product has increased from 1.7 per cent in the third quarter of 2017 to 1.81 per cent in the third quarter of 2018.

He said the foreign reserve has increased from $20.57 billion in May 2016 to $42.92 billion in December 2018.

He said inflation rate has dropped to 11.28 per cent in November 2018 from 18.72 in January 2017.

These, he said, have contributed to exchange rate stability.

“We simply prioritised the completion of ongoing projects over introduction of new ones” – Buhari

Buhari said over a hundred of these projects have been completed.

“In the railway sector, we completed the Abuja-Kaduna rail line and the Abuja metropolis rail line. The Ajaokuta-Itakpe and Lagos-Kano rail line are on course. A significant progress has been made on the Lagos-Ibadan part of the project.” 

More to follow...

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