President Muhammadu Buhari has signed the N8.91 trillion appropriation bill into law.
The signing of the budget signals the beginning of the implementation of the 2019 fiscal year.
The national assembly passed the budget from its original proposal which was N8. 83 trillion to the newly approved budget of N8.91 trillion raising it by over N90.3billion on April 30.
The budget is based on estimated crude oil production of 2.3 million barrels a day and the crude oil price of $60 per barrel.
The budget deficit is put at N1.9 trillion.
Highlights of the 2019 budget as approved by the National Assembly include the capital expenditure of N2.09trillion, recurrent expenditure of N4.05trillion, statutory transfers of N502billion, fiscal deficit of N1.9trillion, and special intervention of N500billion.
The lawmakers also approved debt service of N2.25trillion out of the figure, N1.7trillion was approved for domestic debts, while the sum of N433billion was provided for foreign debts.
