Ajibola said this in an interview with newsmen on Thursday in Abuja, while reacting to the passage of the 2019 Appropriation Bill of N8.92 trillion by the National Assembly.
The Statutory Transfer stood at N502 billion, Fiscal Deficit-N1.9 trillion, Special Intervention N500 billion, Recurrent Expenditure N4 trillion, Capital Expenditure-N2 trillion and Deficit to Gross Domestic Product of 1.37 per cent.Oil price hovers at $53 per barrel, as instability persists“We have a lot of pressure on the budget, we have a debt to service, it is the capital budget that will bear the brunt.
“If we are able to recoup the initial expenditure on the projects, then the burden on a capital budget will be down,’’ he said. Daily Oil Production stood at 2.3 million barrels per day, Oil Benchmark stood at 60 dollars per barrel, while the Exchange Rate stood at N305 per dollar.