The presentation of the N7.298 trillion 2017 budget with 20.4% increase over the 2016 estimate was scheduled for 10am but did not start till 2.18pm.

The 2017 budget was benchmarked at N305 against the US dollar ($1) with 2.2 million barrels.


The 2017 budget also sets a benchmark of $42.5 per barrel of oil, as against $38 in 2016.

Below are 6 takeaways from

Buhari’s speech during the presentation of the budget.

1. Building the nation’s economy
The president stressed the need for the country to focus on building the economy by producing more rather than depend on imported goods. He said for the nation to achieve self-sufficiency, more work needs to be done.

"I hereby make a special appeal to states to make land available to farmers," he said.

2. Increase the production of oil
Buhari noted that his administration was determined to get the production of oil back to at least 2.2 million bpd.

3. Infrastructure
The government will focus on the development of infrastructure, especially road and rail in 2017.

4. Power sector
He said this sector is experiencing funding issues though there has been an intervention. He said a provision was made in the 2017 budget to offset the country's electricity bills.

5. The war against insurgency
Buhari said his administration was committed to maintaining peace and security nationwide.
“We will continue to fortify our defence spending till all our enemies within and without are subdued.
“The people who voted for us are waiting for us to change the course of this nation,” he said.

6. Provisions in the budget
He disclosed that N100billion was allocated to the judiciary to allow them do their job with independence. Defence got the budgetary allocation or N140billion, water resources N85billion, interior N63billion, education N58billion, UBE commission N92billion, FCT N37billion and NDDC N61billion.

Buhari expressed optimism that the 2017 budget will make the lives of Nigerians better than it did in 2016.

This will be the second budget the president is presenting to the National Assembly. The first which was presented in 2015 was trailed by controversy. Buhari refused to give assent as the budget was said to be padded.




https://www.youtube.com/watch?v=Jm2gfXA_J-c

This guy above me hen...

Buhari expressed optimism that the 2017 budget will make the lives of Nigerians better than it did in 2016.


What is wrong with this man sef?


2016 Budget was called Budget of CHANGE, yet Nigerians lives became so miserable with hyper-inflation, devaluation, extremely reduced purchasing power and gross reduction in disposable income.

Here we are with another set on new lies.


Buhary, please what have you done to the culprit of 2016 Budget panders? Nothing! Then, we should expect another set of 2017 budget padding.


Nigeria in a vicious cycle since May 29th 2015.

7 trillion under Buhari is 3 trillion under GEJ. Naira has been devalued by over a 100 percent so Nigerians dont be fooled

Click LIKE if you know this budget will be like 2016 own

We have hear oooo.......shege mavorody

K

check my signature for something better than mmm, its blazing hot!

Let's pray it scale through the National Assembly without padding.

may be the person below me have somein beta to say.

Education budget is pretty low sha...and so na farming be the new yahoo yahoo

I supported PMB but his economic team have been a fiasco, decline in oil prices or not. The forex rates shouldn't be this bad, some of the policies tried / proposed have been comical.

What would DSS arresting BDCs achieve? Data price hike? Arresting people who keep foreign currency for more than 30 days even if legitimate? Closing all land borders when the existing ports might be overwhelmed ?


GEJ failed as a leader, sadly PMB has been woeful as well. All sentiments aside...

ok

Okay baba we want actions, you are trailing the line of blame of the wastefulness of the past administration, but it's time to help us through this situation abit, even if we are a monoeconomy....sai baba

no be plagiarism at work?

Long life Sai Baba.

Hmmm

Shouldn't this budget be suspended, what has been done with that of 2016?

let the games begin

Thanks Mr President

Is this important?
Government doesn't care about you.
Hustle till YOU become the government

Nigeria will be great again,insha Allah.

Budget padding loading @ Green and red house 88%

I wonder what the judiciary will do with 100BILLION Naira in one year. We are watching.

Moreoffaith:
This guy above me hen...

D guy is just a.....cock