2019 budget: Full text of what Buhari said at presentation before NASS members
N8.83 trillion for the 2019 fiscal year.
The figure came in the 2019 Appropriation Bill presented by the
President to a joint session of the National Assembly in Abuja.
According to Buhari, N4.04 trillion or 50.31 per cent is earmarked for
recurrent expenditure while N2.03 trillion representing 22.98 per cent
would be for capital projects.
Other estimates are N492.36 billion for statutory transfers; N2.14
trillion for debt servicing and provision of N120 billion as sinking
fund.
Read Buhari's full speech below;
1. It is my pleasure to present the 2019 Budget Proposals to this
Joint Session of the National Assembly.
2. This being my last budget speech to the 8th National Assembly, I
will review economic developments over the past three and a half years
with particular emphasis on 2018. I will then highlight the budget
proposals for 2019. The full details of which will be given by the
Honourable Minister of Budget and National Planning.
OVERVIEW OF ECONOMIC DEVELOPMENTS
3. The last three and a half years have been challenging both at home
and abroad. Commodity prices, both oil and non-oil, have been
volatile. Global trends, be it security, trade or politics have also
been unpredictable. Here in Nigeria, we have had to cope with
disruptions in oil production and exports, security challenges and
devastating floods.
4. Through hard work, and by the special grace of God, we have
weathered these storms and made progress on many fronts which is why
we have cause to be optimistic about the future.
5. The economy has recovered from recession and we have had six
quarters of growth since then.
6. We have done more work with less resources in agriculture,
infrastructure and social investments. We have built better
understanding between the Federal Government and the States on
non-partisan lines, in particular, intervening several times to
support States to meet their obligations including the payment of
salaries and pensions.
7. Sustained development is difficult, if not impossible, in an
atmosphere of insecurity and poor governance. We have therefore made
strenuous and successful efforts to overcome the insurgency in the
North-East and to resolve inter-communal misunderstandings elsewhere.
8. The Federal government and the National Economic Council have been
working in a unified and patriotic manner to tackle the underlying
causes of tension between pastoralists and sedentary farmers. These
conflicts have a long-standing history caused mainly by competition
for increasingly scarce resources occasioned by rising population and
erratic weather conditions – a product of climate change.
9. I take this opportunity to salute the men and women in our Armed
Forces and Security Services for their courage, sacrifice and
patriotism in protecting our collective safety and security.
10. The Federal Government has also sustained its efforts to fight
grand corruption and improve public financial management, and its
efforts to improve public financial management through the
comprehensive implementation of the Treasury Single Account, the
Government Integrated Financial Management Information System and the
Integrated Payroll and Personnel Information System.
11. You will also recall that as part of our commitment to improved
governance, we joined the Open Government Partnership in 2016 with the
aim of enhancing public service delivery, promoting business
opportunity, enhancing government efficiencies, preventing corruption
and building trust in government. We remain committed to these, and
other institutional reforms that will enhance transparency and
accountability in public service delivery.
12. We also recorded several successes in economic management. Real
Gross Domestic Product growth stood at 1.81 percent in the third
quarter of 2018 compared to 1.17 percent in the third quarter of 2017.
We have had a sustained accretion to foreign exchange reserves from a
low of $28.57 billion in May 2015 to $42.92 billion by mid-December
2018. This has contributed to exchange rate stability and will provide
a buffer against any unanticipated external shocks. Inflation has also
declined from a peak of 18.72 percent in January 2017 to 11.28 percent
in November this year.
13. In the area of trade, Nigeria has moved from a deficit to surplus
in our trade balance. As at the third quarter of 2018, the trade
balance was a surplus of N681.27 billion representing a significant
improvement from the deficit of N290.1 billion in 2016. This reflects
the rebound in crude oil exports, increased non-oil exports and a
reduction in the importation of food and items that can be produced
locally. Foreign capital inflows including direct and portfolio
investments also responded to improved economic management. Capital
importation to Nigeria in the third quarter of 2018 stood at $2.86
billion, which is a 56.7 percent increase compared to the
corresponding period in 2016.
14. Trading is a significant contributor to our economic development
but we must continue to focus on strengthening actual production. From
farmers to miners to processors to digital entrepreneurs to players in
the entertainment industry, all hands must be on deck to ensure the
country succeeds.
15. With regard to the oil and gas sector, crude oil production
continues to increase steadily towards budgetary targets and will
receive a further boost when the 200,000 barrels per day Egina oil
field starts operations.
16. In agriculture, we are seeing increased investment across the
entire value chain from agricultural inputs to farming and ultimately,
food processing. Barely three years ago, Nigeria was spending $5
million dollars a day on rice importation. Today rice imports have
virtually stopped. Indeed, we are on course to achieve food security
in major staple foods in the not too distant future
Distinguished Senate President, Right Honourable Speaker
17. Infrastructure development is also another area in which we have
made a lot of progress. Our approach was a logical one. We simply
prioritised the completion of critical on-going projects over the
introduction of new ones.
18. For example, in the Ministry of Water Resources, we identified 116
abandoned or uncompleted projects relating to irrigation, dams,
drainage and water supply. To date, we have completed and/or
commissioned a number of these projects including;
a. Central Ogbia Regional Water Project, Bayelsa State
b. Northern Ishan Regional Water Supply Project, Edo State
c. Sabke Water Supply Project, Katsina State
d. Takum Water Supply Project, Taraba State
e. Ogwashi – Uku Dam, Delta State
f. Shagari Irrigation Project, Sokoto State
g. Galma Dam, Kaduna State.
h. Mangu Water Supply Project, Plateau State
i. Federal University of Agriculture, Makurdi Water Supply Project, Benue State
19. In the railway sector, we completed and commissioned the
Abuja-Kaduna Rail Line and the Abuja Metro-Rail Project. Similarly,
the previously abandoned Itakpe-Ajaokuta-Warri Rail Line is undergoing
test runs and will soon be commissioned. We are also on track for the
Lagos – Kano rail line as significant progress has been made on the
Lagos to Ibadan segment of the project.
20. We remain committed to rebuilding and expanding our road network.
In 2018, an additional 1,531 kilometers of roads have been constructed
and 1,008 kilometers rehabilitated across the country. Priority
projects such as the Abuja – Kaduna – Kano highway as well as the
Second Niger Bridge are well underway through the Presidential
Infrastructure Development Fund.
21. In every State of Nigeria today there is a major Federal road
project going on. For instance:
a. In the North Central, long neglected roads like the Ilorin-Jebba
Road, a stretch of 93 km that took a number of days to travel has been
completed to provide a critical link between the North and South of
Nigeria over a few hours. We have awarded the dualization of this road
to expand it all the way to Mokwa, as we have done to the Abuja –
Keffi-Lafia -Makurdi roads where work recently commenced. Similarly,
work has resumed on the Suleja – Minna road after years of inactivity.
b. In the South-South, we have recently completed the 60 km section of
Alesi to Ugep in Cross River State, and awarded the 72km section from
Odukpani Junction to Ugep which will reduce a journey that used to
take 3 days a few years back, to 3 hours. Work has also commenced on
the Calabar – Itu – Odukpani Road that links Akwa-Ibom to Cross River
State, as we have started work on the long-neglected Bodo – Bonny
Bridge to connect these long separated communities.
c. In the South East, a critical section of Umunya linking Awka to
Onitsha, a stretch of 18 kilometers, is being constructed now and one
side of it should be ready for use before June 2019. Roads like
Arochukwu – Ohafia – Bende are also receiving our attention.
d. In the South–West, long neglected and abandoned roads like the
Badagry Expressway have been awarded for construction along with the
Apapa – Tin Can Island, Mile 2 – Oworonshoki, road to ease the
congestion currently being experienced in Lagos, while interstate
roads linking Ogun through Ikorodu to Sagamu, and Ipaja to Otta and
Abeokuta are being repaired with payment to contractors.
e. In the North-West, we have completed the Sokoto to Tambuwal – Jega
Road comprising 135 Km out of the entire Sokoto to Yauri stretch and
sections of Kaduna Eastern bypass and Kano Western bypass are also
progressing.
f. In the North-East, we have started work on the long-neglected Mayo
– Belwa – Jada Road, and the Gombe – Numan – Jalingo Road and recently
awarded the reconstruction of bridges damaged by insurgency.
In addition, thanks to the N100 billion Sukuk Bond raised in Nigeria,
work is on-going in 25 road projects. Among which are:
a. Construction of the Oju/Loko-Oweto bridge over River Benue
b. Dualisation of section of Abuja-Abaji-Lokoja Road
c. Dualisation of section of Suleja-Minna Road
d. Dualisation of section of Lokoja-Benin Road (Obajana – Okene)
e. Dualisation of section of Kano – Maiduguri Road linking
Kano-Jigawa-Bauchi-Yobe
f. Dualisation of section of Kano-Katsina Road
g. Dualisation of section of Kano Western By-Pass
h. Construction of Kaduna Eastern By-Pass
i. Rehabilitation of outstanding section of Onitsha-Enugu Expressway
j. Rehabilitation of Enugu-Port Harcourt Road
k. Dualisation of section of Yenegoa Road Junction
22. In power, we are working on over 90 transmission projects across
the country. Major power transmission stations like Mayo Belwa in
Adamawa, Ejigbo and Odogunyan in Lagos, Apo in Abuja, Ikot – Ekpene
Switching Station Akwa Ibom, Maiduguri in Borno, Damaturu in Yobe have
been completed to support electricity transmission.
23. For effective delivery to critical areas, we decided that we had
to decentralize power supply leveraging off-grid solutions especially
solar based systems. We are pushing more "willing- buyer willing
–seller" arrangements. Already, this has brought more reliable
off-grid power to markets and economic clusters around the country.
24. The projects being implemented right now include the Ariaria
Market in Aba, the Sabon Gari Market in Kano, the Sura Shopping
Complex in Lagos to mention a few. Our hope is to roll out such
programs to 300 such economic clusters across the country.
25. In addition to economic clusters, we are also looking at rolling
out similar off grid solutions to Universities and medical centers
across the country.
26. As we develop our infrastructure and power sector, we have not
lost sight of the adverse impact climate change has to our economy,
food and national security agenda. The recent floods, farmer-herdsmen
conflict and aggressive desertification are all effects of climate
change. We have seen our forests, lakes, arable land and grazing areas
gradually disappear over the decades.
27. As a Government, we took a long term view on tackling the effects
of climate change which must be contained and ultimately reversed. We
have stepped up our afforestation efforts. In the past two years, we
have planted over 2.3 million seedlings in 21 States. We also
successfully launched the Green Bond which will focus on developing
environmentally friendly projects and other green programs across the
country. Nigeria is also actively participating in international
efforts to tackle climate change.
28. Furthermore, working with key stakeholders including the National
Assembly, State Governments and the private sector, we intensified our
drive to remove obstacles, reduce processes and lower costs of doing
business. The fact that over the past three years, Nigeria has gained
24 places in the World Bank Ease of Doing Business rankings is a clear
indication that we are moving in the right direction.
29. We are confident that improvements arising from on-going work will
result in another quantum leap in the 2019 rankings. The States have
also keyed into efforts to improve the business environment, and the
sub-national Doing Business Report for Nigeria showed that 32 out of
36 states recorded overall improvement.
30. In line with our commitment to creating a fairer and more
inclusive society, I am pleased to update you on our efforts in this
regard. Specifically,
a. Through the N-Power scheme, 500,000 graduates have been employed to date;
b. The National Home-Grown School Feeding program is feeding 9,300,892
pupils in 49, 837 schools in 24 states across Nigeria, and empowering
96,972 cooks;
c. The Government Enterprise and Empowerment Program has seen to the
disbursement of 1,378,804 loans to small businesses and farmers in all
states including the FCT. These are interest free loans that will be
paid back;
d. 297,973 households in 26 states across the country are benefitting
from the Conditional Cash Transfer program.
Distinguished Senate President, Right Honourable Speaker
31. Whilst we are most encouraged by the improved performance of the
economy since we started implementing our Economic Recovery and Growth
Plan, there is an area that continues to be a cause of concern. That
has to do with our unsatisfactory revenue performance.
32. Although we have sustained efforts at boosting tax revenues, our
progress has been constrained by the relatively low level of growth,
having just emerged from recession. This has restrained our tax
revenue drive.
33. Furthermore, the volatility in oil prices, and disruptions in oil
production, delayed our plans to recover past due oil license and
royalty charges as well as restructuring of the Joint Venture Oil
Assets.
34. As we have returned to the path of growth, I have directed that
action on all our revenue initiatives be expedited. I have already
issued a number of Presidential directives on the disposal of
recovered assets, deployment of the National Trade Window as well as
the immediate recovery of past-due oil royalties including by crude
seizures, if necessary.
35. On asset recovery, in order to put to use for the benefit of all
Nigerians monies and assets stolen from the public treasury, we have
since the 2016 Budget created a revenue line in the budget for stolen
and recovered funds.
36. Thus every government project today benefits in one way or the
other from recovered looted funds. I have also directed all the
relevant authorities to liquidate all recovered, unencumbered assets,
such as landed properties, buildings and vehicles, so that these funds
can be available to help in the funding of the Budget, particularly
the important infrastructure projects.
2018 BUDGET PERFORMANCE
37. Now to the 2018 Budget performance. The 2018 Budget was based on a
benchmark oil price of $51/b, oil production of 2.3 million barrels
per day and an exchange rate of N305 to the dollar. Based on these,
the Federal Government's aggregate revenue of N7.17 trillion was
projected to contribute to the 2018 Budget of N9.12 trillion. The
projected deficit of N1.95 trillion (or 1.73 percent of GDP) was to be
financed mainly by borrowing.
38. In 2018, average oil production up to end of the third quarter was
1.95 mbpd, as against the estimated 2.3 mbpd for the entire year.
However, average market price of Bonny Light crude oil was higher (an
average of $74 per barrel as at October) than the benchmark price of
$51.
39. As at the end of the third quarter, Federal Government's actual
aggregate revenue was N2.84 trillion, which is 40 percent higher than
2017 revenue. The overall revenue performance is only 53 percent of
the target in the 2018 Budget largely because some one-off items are
yet to be actualized. We have now rolled this revenue item over to
2019.
40. Of the total appropriation of N9.12 trillion, N4.59 trillion had
been spent by 30th September, 2018 against the prorated expenditure
target of N6.84 trillion. This represents 67 percent performance. Debt
service and the implementation of non-debt recurrent expenditure,
notably payment of workers' salaries and pensions are on track.
Despite the delay in the passage of the 2018 Budget on 20th June 2018,
the sum of N820.57 billion had been released for capital projects as
at 14th December, 2018. We have carried over capital projects that
were not likely to be fully funded by year-end 2018 to the 2019
Budget.
PRIORITIES FOR THE 2019 BUDGET
41. The 2019 Budget Proposal is intended to further place the economy
on the path of inclusive, diversified and sustainable growth in order
to continue to lift significant numbers of our citizens out of
poverty. The underlying drivers of the 2019 revenue projections have
been adjusted to reflect current realities. On the expenditure side,
allocations to Ministries, Departments and Agencies of Government were
guided by the 3 objectives of the ERGP, which are, (i) Restoring and
Sustaining Growth; (ii) Investing in our People and (iii) Building a
Globally Competitive Economy.
2019 KEY BUDGET ASSUMPTIONS
42. The 2019 Budget proposal is based on the following assumptions:
a. Oil price benchmark of $60 per barrel;
b. Oil production estimate of 2.3 million barrels per day, including
condensates;
c. Exchange rate of N305/$;
d. Real GDP growth of 3.01 percent; and
e. Inflation Rate of 9.98 percent.
43. Notwithstanding the recent softening in international oil prices,
the considered view of most reputable analysts is that the downward
trend in oil prices in recent months is not necessarily reflective of
the outlook for 2019. However, as a responsible Administration, we
will continue to monitor the situation and will respond to any changes
in the international oil price outlook for 2019.
44. With regard to oil production, I have directed the NPPC to take
all possible measures to achieve the targeted oil production of 2.3
million barrels per day.
FEDERAL GOVERNMENT REVENUE ESTIMATES
45. Total revenue is projected at N6.97 trillion (which is 3 percent
lower than the 2018 estimate of N7.17 trillion), consisting of Oil
revenue projected at N3.73 trillion while non-oil revenue is estimated
at N1.39 trillion.
46. We have allowed for N305 billion ($1 billion) for under-recovery
by NNPC on PMS in 2019. We will continue working to bring it downwards
so that such resources are freed up to meet the developmental needs of
our people.
47. Let me also take this opportunity to address and clarify the
under-recoveries or subsidy on petrol. In a period of economic
challenges where purchasing power is weak, we must reduce some of the
burden on Nigerians.
48. The problem with subsidies in the past is abuse and corruption.
Today the government through the NNPC is the sole importer of PMS and
therefore, the under-recovery is from the NNPCs trading account. This
means the possibility of some marketers falsifying claims is removed.
49. The estimate for non-oil revenue consists of N799.52 billion from
Companies Income Tax (CIT), N229.34 billion from Value Added Tax (VAT)
and Customs Duties of N302.55 billion. We have reduced our expectation
from Independent Revenues to N624.58 billion. Other revenues expected
in 2019 include various recoveries of N203.38 billion, N710 billion as
proceeds from the restructuring of government's equity in Joint
Ventures and other sundry incomes of N104.11 billion.
PROPOSED EXPENDITURE FOR 2019
50. A total expenditure of N8.83 trillion is estimated for 2019. This
includes grants and donor funds of N209.92 billion. This provision is
less than the 2018 FGN appropriated expenditure estimate of N9.12
trillion. However, it is higher than the N8.6 trillion originally
proposed by the Executive Branch to the National Assembly for 2018.
51. The budget deficit is projected to decrease to N1.86 trillion (or
1.3 percent of GDP) in 2019 from N1.95 trillion projected for 2018.
This reduction is in line with our plans to progressively reduce
deficit and borrowings.
52. The proposed N8.83 trillion of 2019 Aggregate Expenditure comprises:
a. Recurrent Costs of N4.04 trillion;
b. Debt Service of N2.14 trillion;
c. Statutory Transfers of about N492.36 billion;
d. Sinking Fund of N120 billion which will be used to retire maturing
bond to local contractors; and
e. Capital Expenditure of N2.031 trillion including capital
supplementation but excluding the capital component of Statutory
Transfers.
STATUTORY TRANSFERS
53. The provision for Statutory Transfers in 2019 is N492.36 billion
which is a seven percent decrease from 2018. However, transfers to
Niger Delta Development Commission (NDDC) and Universal Basic
Education Commission (UBEC) are projected to be higher as they are
directly related to the quantum of oil revenue.
DEBT MANAGEMENT
54. The sum of N2.14 trillion has been provided for debt service. Of
this amount, 80 percent is to service domestic debt which accounts for
about 70 percent of the total debt. Although our national debt is
within sustainable limits, we need to increase our domestic resource
mobilization to bring down our debt-revenue ratio over the medium
term.
RECURRENT EXPENDITURE
55. A substantial part of the recurrent cost proposal for 2019 is for
the payment of salaries and overheads in Ministries providing critical
public services such as:
a. N569.07 billion for the Ministry of Interior;
b. N435.62 billion for the Ministry of Defence;
c. N462.24 billion for the Ministry of Education; and
d. N315.62 billion for the Ministry of Health.
The allocation to these Ministries represent significant increases
over votes in previous budgets, underscoring our commitment to
increase investment in national security and human capital
development.
PERSONNEL COSTS
56. Personnel costs, estimated at N2.29 trillion, currently amount to
nearly 40 percent of projected revenues. Substantial savings have been
made from wider use of the Integrated Personnel Payroll Information
System platform. I have directed that all MDAs must implement the
IPPIS by March, 2019. We have made provisions for staff promotion
arrears and recruitments by the armed forces, police and para-military
agencies.
57. We have also provided for the settlement of inherited outstanding
pension liabilities. Again we have included provisions for the
implementation of a new national minimum wage.
58. Furthermore, 1 percent of the Consolidated Revenue Fund amounting
to N51.22 billion has been earmarked for the Basic Health Care
Provision Fund, and other related commitments.
59. Let me say something about the minimum wage issue. I am committed
to addressing the issue of a new minimum wage and I will be sending a
bill to the National Assembly on this. However, in order to avoid a
fiscal crisis for the Federal Government, as well as the States, it is
important to devise ways to ensure that its implementation does not
lead to an increase in the level of borrowing.
60. I am accordingly setting up a High Powered Technical Committee to
advise on ways of funding an increase in the minimum wage, and the
attendant wage adjustments, without having to resort to additional
borrowings.
61. The work of this Technical Committee will be the basis of a
Finance Bill which will be submitted to the National Assembly,
alongside the Minimum Wage Bill. In addition, the Technical Committee
will recommend modalities for the implementation of the new minimum
wage in such a manner as to minimize its inflationary impact, as well
as ensure that its introduction does not lead to job losses.
CAPITAL EXPENDITURE
62. We have allocated N2.28 trillion for capital spending, inclusive
of capital in statutory transfers.
63. For comprehensiveness and transparency, the expenditure plans of
the larger Government Owned Enterprises (GOEs) as well as
Multi-lateral and Bi-lateral project-tied loans have been integrated
into the 2019 -to- 2021 Medium Term Fiscal Framework.
64. With the inclusion of N275.88 billion representing capital for the
larger GOEs and N556.02 billion for Multi-lateral/Bi-lateral
project-tied loans, the aggregate capital budget is N3.12 trillion.
This represents 30 percent of the total FGN proposed expenditure for
2019.
65. In order to get full value for monies expended by the Government
over time and to avoid duplication and waste, our emphasis will
continue to be on completion of existing projects. Accordingly,
provisions have been made to carry over projects that are not likely
to be fully funded under the 2018 budget to the 2019 capital budget.
66. The allocation to the Social Intervention Projects (SIP) has been
retained at N500 billion, consisting of N350 billion recurrent and
N150 billion capital. This reflects our continued determination to
pursue inclusive gender-sensitive and pro-poor growth.
67. In addition, to maintain the peace in the Niger Delta, the
provision of N65 billion for the Presidential Amnesty Programme has
been retained in the 2019 budget. Similarly, the sum of N45 billion
Naira has been provided for the North East Intervention Fund, as well
as the sum of N10 billion Naira as take-off grant for the North East
Development Commission.
68. To further support Small and Medium Scale Enterprises, which are
the focus of our industrialisation drive, we have set aside the sum of
N15 billion for the recapitalization of the Bank for Agriculture and
the Bank of Industry. In addition, the sum of N10 billion is provided
as a grant to the Bank of Industry for the purpose of subsidizing the
interest rates charged on loans to Small and Medium-Scale Enterprises.
This is intended to make it possible for them to access single digit
interest rate loans from the Bank of Industry.
OUR VISION FOR THE FUTURE
69. Our vision is for much better prospects for all Nigerians. With
careful economic management and continued diversification of our
production and revenue bases, we will build an inclusive and stable
economy for generations to come.
70. In addition to the development of Special Economic Zones which
will underpin our efforts to move away from a mono-economy, we intend
to exploit the comparative advantages of the six geo-political zones
and our 36 states by establishing 6 Industrial Parks and 109 Special
Production and Processing Centres across all 109 senatorial zones
including shared facilities. These clusters will have power, water,
and broadband facilities with embedded regulatory services. The
clusters will generate vibrant economic activity, stimulate small
businesses and create jobs across the length and breadth of Nigeria.
71. A key objective going forward is to further encourage and enable
'prosperous small businesses'. Our micro, small and medium enterprises
will accordingly benefit from improved access to funding, supporting
infrastructure and off-take arrangements by Government and larger
enterprises. They will leverage the Government Enterprise and
Empowerment Programme, and the Anchor Borrowers Programme.
72. Nigeria cannot afford to be left behind in the digital age. To
create jobs for our young people, we will build a digital economy
around the technology and creative sectors. In partnership with the
states and the private sector, we are working on a project to increase
broadband penetration across all geopolitical zones of the country,
such that over the next four years, all the 774 LGAs will be provided
with fibre connectivity.
73. Modern, up-to-date infrastructure is particularly important to
boost economic activity. We will continue with our emphasis on power,
roads and rail. In addition to completing the Ibadan-Kano rail line we
will also embark upon and move rapidly to complete the Eastern Rail
from Port Harcourt to Maiduguri passing through Aba, which will
connect to Abakaliki, Awka, Enugu, Owerri, Umuahia, then through
Makurdi, Jos, Bauchi and Gombe. The Coastal Rail from Calabar to Lagos
will also be completed as we aim to build a true national rail network
that links all State capitals. Our road projects will gather pace and
priority projects under the Presidential Infrastructure Development
Fund such as the Abuja-Kaduna-Kano expressway, the Second Niger Bridge
and the Lagos-Ibadan expressway will be fast-tracked for early
completion.
74. We shall expand generation, transmission and distribution of power
from the national grid while developing innovative off grid solutions
for schools, hospitals and markets.
75. Efforts to improve hard infrastructure will be complemented by
expanding reforms in the ease of doing business initiative. We will
continue to remove obstacles, reduce costs and ensure timely delivery
of services.
76. Our social investments and social protection arrangements will
continue to be deepened by extending coverage to all States and
increasing the number of school children being fed daily. This will
come with associated direct and indirect jobs across the value chain
including farmers, aggregators, processors, transporters, cooks and
servers.
77. 'Every child counts'! This is the guiding principle of our
national educational system and entails far reaching actions to boost
digital literacy, impart functional skills to our children, and
re-train tens of thousands of teachers every year. Indeed, we must
equip our children from a very young age with skills for the modern
era by emphasising education in science, technology, engineering, arts
and mathematics.
78. Health is an important part of our aspirations for human capital
development and we will continue to strive to make our people healthy
and happy. In addition to building world class treatment centres,
including for cancer, we will be establishing a health system that
prioritises primary health care so that millions of our people can be
insured for a minimum package of services with the poorest exempt from
co-payments. In so doing, we will reduce the stress, strains and costs
that the Nigerian people face in accessing decent health care.
CONCLUSION
79. This 2019 Budget Proposal, which I lay before you today, has
benefited from extensive consultations and stakeholder engagements
reflecting our belief that all sectors have a critical role to play in
our journey towards sustainable and inclusive development. It further
demonstrates our commitments to deliver the dividends of democracy to
all Nigerians in a more inclusive manner. It represents another
important step in building the Nigeria of our dreams. A vision that we
are determined to achieve with the support of all Nigerians.
80. It is therefore with great pleasure and a deep sense of
responsibility, that I lay the 2019 Appropriation Bill before this
Joint Session of the National Assembly, for consideration and passage.
What has become evident over the past three, or so, years is that more
can be achieved in the overall interest of the Nigerian people when we
work together. It is my hope that despite our current preoccupation
with political activities, we can all commit to an early passage of
this budget in the larger interest of our people and the national
economy.
81. I thank you most sincerely for your attention. God bless the
Federal Republic of Nigeria.
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