President Muhammadu Buhari on Tuesday in Abuja presented about N8.612
trillion as the 2018 Appropriation Bill to a joint session of the
National Assembly, saying the projected expenditure will drive rapid
economic recovery.
He said at the session that with a benchmark of 45 dollars per barrel
at an exchange rate of N305 to a dollar in 2018, the budget would
consolidate on the achievements of previous budgets to aggressively
steer the economy to the path of steady growth.
“With the economic recovery made so far, it is clear that we made the right decisions.
“And I urge you all to support the Federal Government’s policies towards economic recovery,’’ he said.
Mr. Buhari said the government would continue to develop
infrastructure and increase investments in agriculture to attain food
security and reduce importation.
He added that while the Federal Government was committed to
identifying alternative means of funding new projects, there was need to
continue to pursue public private partnership, to provide more
infrastructure in the country.
According to him, the Federal Government has been able to construct or rehabilitate about 776-kilometer roads in 2017.
The president said the construction of Abuja metroline had attained
98 per cent completion, adding that work had commenced on the
Ajaouta-Itakpe rail line which was abandoned for 17 years.
He said the project would be delivered in September 2018, adding that the country’s power sector would witness a turn around.
“The power sector reform is still working in progress as we have
increased power generation but we still have some challenges in
transmission and distribution network,’’ Buhari said.
He added that the Federal Government was committed to green alternative energy.
(NAN)