Adebayo Adenrele
The National Assembly has approved the 2024 budget of 28.7 trillion naira covering capital, recurrent, debt service, statutory transfers, among others.
Here is the breakdown of the budget: Capital (N9.9 Trillion), Recurrent (N8.7 Trillion), Debt Service (N8.2 Trillion), Statutory Transfers (N1.7 Trillion), Oil price benchmark ($77.96/barrel).
Others are: Oil production rate (1.78 million barrels per day), Exchange rate (N800 to $1), GDP growth (3.88 %).
Looking critically at two notable changes in the budget by NEWSTODAYNG, it is discovered that Capital expenditure increased by over 1 trillion while dollar is benchmarked to N800.
