The minister said this on Thursday in Abuja at the presentation of the approved 2018 Budget of Consolidation. The N9.12 trillion 2018 budget was signed by President Muhammadu Buhari on Wednesday after it was raised from N8.61 trillion by the National Assembly.
The budget expenditure was premised on oil price benchmark of 51 dollars per barrel, while crude oil production was bench-marked at 2.3 million barrels per day and exchange rate of N305 to one dollar. Udoma said N793 billion would be borrowed domestically, while N849 billion would be borrowed from foreign sources to finance the budget deficit.
He added that the overall budget deficit of N1.950 trillion in the budget represented 1.74 per cent of the Gross Domestic Product (GDP). He noted that the projected deficit was within the threshold stipulated in the Fiscal Responsibility Act (FRA) 2017.
GUYS, WHAT DO YOU THINK?
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FACEBOOK COMMENTS
Endy Edeson
AMEN. I think it is a good idea for FG to borrow. at least to save the country of stagnation and unnecessary conflict @Temitope
Oginni Samuel Oluwaseun
What are they getting done. They have not implemented 30 percent of the 2017 budget. Now this??
Paulorossi Babatunde Akins
THIS BUDGET OF A THING IS FOR CAMPAIGN ,YOU PEOPLE DONT KNOW,IS THIS THE TIME THEY SIGN BUDGET ,WE HAVE USED HALF OF THE YEAR AND THEY JUST BRING BUDGET,SHAM ON THE PRESIDENT IS A DISGRACE TO HUMAN AND THIS COUNTRY,HE HAS FAILED US ALREADY
Iam Lucky Blings
It’s a shame for nigeria to be talking about 2018 budget at the middle of the year truly nigeria is a shithole and we the poor masses are stacked illiterate because we are blind to vote 
🗳 out the recycled politicians
🗳 out the recycled politicians
Aruoture Goodie
Smh