Mixed Reactions of Nigerians trail Buhari's N8.61 Trillion Budget for 2018
President Muhammadu Buhari presented the 2018 appropriation bill to the National Assembly on Tuesday, November 7, 2017. The N8.6 trillion budget is christened ‘Budget of Consolidation’. Speaking during the presentation, President Buhari noted that the principal objective of the federal government in 2018 would be to reinforce and build on our recent accomplishments. The aggregate expenditure comprises recurrent costs of N3.494 trillion; debt service of N2.014 trillion; statutory transfers of N456 billion; sinking fund of N220 billion; and capital expenditure of N.428 trillion. If passed, the budget is expected to result in a deficit of N2.005 trillion, amounting to 1.77 percent of the country’s gross domestic product (GDP). To finance the deficit, the Nigerian government would borrow an estimated N1.699 trillion. As it has been mapped out here by our amiable president, concerning what its allocated for the development of education in Nigeria, which is, (50 Billion nai...