President Muhammadu Buhari has submitted the 2022 budget to the national assembly in a joint session.

Below is the breakdown of the numbers.

The total budget size is N16.39tn, hinged on a revenue projection of N10.13tn. This leaves a deficit of N6.26tn.

N6.83tn & N3.61tn were earmarked for non-debt recurrent expenses & debt servicing.

Projections for the proposed #2022budget were benchmarked against;

-An oil production of 1.88 million barrels per day, 

-A benchmark oil price of $57 per barrel

-An exchange rate of N410.15 to US$

-A targeted inflation rate of 13% and

-A GDP growth rate of 4.2%

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