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Things to know about Nigeria 2018 Budget

NASS- National assembly
bn- Billion Naira
tn- Trillion Naira
N- Naira
$- Dollars
&- and

The 2018 budget was read to NASS on 7th of october by the president. The budget is the largest to be released by the Nigeria goverment.

They is masive investment in 5 major sectors which are:

Power, works and housing: N555.88bn
Transportation: N263:10bn
Special intervention:  N150bn
Defence sector: N145bn
Agric &rural devlopment: N118.98bn

Inflation:12.4%
Oil price: $45
Exch: N1/$305
Budget proposal: N8.614tn
Oil production: 2.3mpd
Capital expenditure: N2.313tn
Recurrent expenditure: N3.434tn

CRITISIM

1 Over N1bn is to be spent within 50days: critics said that the money is to much to spend within 50 days.

2. 12.4% inflation is in contrast with CBN inflation rate of 10.4%.

3.  Crictics believe that N1/$305 is not achievable compare with the current rate at N1/$365.

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