Nigerian President, Dr. Goodluck Jonathan has by late last year, Dec. 19, 2013, through the Coordinating Minister of the Economy and Minister of Finance, Mrs Ngozi Okonjo-Iweala, presented a budget of N4.642 trillion to National Assembly.
Following the considering and adoptions of the reports of the Ahmad Maccido-led committee on Appropriation and the Ahmed Makarfi-led committee on Finance, the Senate approved the 2014 budget. According to the reports, the budget, tagged, “Budget of Fiscal Consolidation and Inclusive Growth’’, was based on a benchmark of 77 Dollars per barrel of crude and oil production of 2.39 million barrels per day.
