The Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this to journalists at the Presidential Villa.

The breakdown of the proposed budget is N13.08 trillion total aggregate; expenditure (29% Capex), with a deficit of N4.48 trillion; FX: N379/$; and GDP growth targeted at 3%.

 

When asked if the three percent estimated growth was realistic considering the impact of COVID-19 on world economies, the Minister of Finance responded that the policies put in place to ensure inclusive growth while stimulating the economy should produce the desired results

President Muhammadu Buhari is expected to present the budget to the National Assembly with a deficit of N4.48 trillion, while oil production rate is pegged at 1.86 million barrel per day with the oil benchmark standing at $40 per barrel.

The Federal Government is also targeting the inflation rate at 11.96 percent.

Obaseki, who is seeking a second term in office as governor, is leading his main opponent, Osagie Ize-Iyamu of the All Progressives Congress.

Results from 16 local government areas announced by the Independent National Electoral Commission so far indicate that Obaseki is leading Ize-Iyamu with 87,677 votes.

Results from the remaining LGAs are expected to be announced soon.

Governor Obaseki is leading after results from the 16 local government areas with a difference of 87,677 votes.