All that happened....Buhari presents 2016 Budget of N6trn to National Assembly

Hehehe....President Buhari this morning presented the N6.08 trillion 2016 budget to the National Assembly members. During his speech, President Buhari said Nigeria remains committed to diversification to build and reflate the economy. On the current fuel scarcity, Buhari apologized to Nigerians & blamed it on some stakeholders who have refused to embrace change. He said fuel pump price will remain at N87 for now.

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He said the trust in govt is at an all time low but that his govt will not betray the trust put in them. He said his government has the will, resources and commitment to deliver to the Nigerian people.

He announced that a Conditional Cash Transfers to the poor will be created and that it will be managed by the Vice President's office. On the educational sector, Buhari said 500, 000 teachers will be recruited.

On the diversification of the economy, Buhari said young farmers and miners will be encouraged. He added that N1.884 Trillion shall be borrowed to fund the budget.

 

President Muhammadu Buhari Tuesday presented a 2016 budget of N6.08 trillion to a joint session of the National Assembly, pointing out about 2.1 trillion of the budget will be financed through foreign and domestic loans. He clarified that the loans will be used for capital projects.Buhari, while maintaining that the oil bench mark would be $38 per oil barrel, noted that the exchange rate of the budget proposal was pegged at N190, while the capital expenditure rose from N557 billion to N1.8 trillion.

The occasion, which was chaired by the Senate President and chairman of the joint session, Senator Bukola Saraki, had in attendance: the Vice-President Yemi Osinbajo, Speaker of the House of Representatives Hon. Yakubu Dogara, Chief Justice of Nigeria, Mahmud Mohammed, among other dignitaries.

President Buhari presented the 2016 N6.08 trillion Budget to the National Assembly today December 22nd. See more photos abeg