President Goodluck Jonathan on Wednesday presented N4.9 trillion 2013 budget to the joint session of the National Assembly.
The president told the lawmakers that the 2013 budget deficit would
fall to 2.17 per cent from 2.85 per cent captured in the 2012 spending
plans.
He urged them to accept a tighter budget because of ongoing uncertainty over oil prices.
He said, “This threat of oil price volatility remains constant and
forces us to rely on a prudent methodology. We’ve taken necessary steps
to mitigate possible negative effects … of a global recession.”
Detailed report coming soon
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