President Muhammadu Buhari has proposed a budget of N8.83 trillion for 2019.
Presenting the budget to a joint session of the National Assembly, the President said the budget was prepared after wide consultations.
According to the budget, about a quarter of the sum (N2.14 trillion) will be used for debt servicing while N2.031 trillion will be used for capital expenditure.
In the budget, the proposed recurrent expenditure is N4.04 trillion, statutory transfer is N492.36 billion, there is a sinking fund of N120 billion, while capital expenditure is N2.031 trillion.
Meanwhile, during the presentation the Peoples Democratic Party (PDP) lawmakers welcomed President Muhammadu Buhari to the National Assembly with protest songs while their counterparts from the ruling party, All Progressives Congress (APC), were busy cheering him.
The PDP lawmakers sang “Freedom comes with Struggle”, while the APC lawmakers were chanting “Sai Baba” as the president made his way to the podium to present the budget.