Nigeria: Anti-graft drive, economy top 2019 budget

By Rafiu Ajakaye

LAGOS Nigeria (AA) - Nigeria's president on Wednesday presented a $24.5 billion budget for 2019, pledging to introduce a new minimum wage, strengthen infrastructure, and ensure that small businesses get low-interest loans to boost the economy.

Muhammadu Buhari called the fiscal plan #TheNextLevel budget which he said seeks to lift millions out of poverty and grow the country's human capital capacity in the areas of education, healthcare, and food security.

Buhari said he would concentrate on completing ongoing infrastructure projects that he inherited or started on his own to maximize public funds, end a culture of waste, and further jump-start the economy and create jobs amid fears of a fresh crisis.

“This budget proposal 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,” said Buhari.

“It further demonstrates our commitments to deliver the dividends of democracy to all Nigerians in a more inclusive manner.”

The budget would be funded by revenue from oil, tax, and grants, among other “sundry” sources of revenue, he said.

“All recovered, unencumbered assets, such as landed properties, buildings and vehicles” will be directed to the budget, and particularly key infrastructure projects, he added, touting his anti-corruption drive.

He said a development commission on the insurgency-wracked northeast will take off next year while also saying funding for the amnesty program in the oil-rich Delta region will continue alongside his school feeding program.

In apparent response to critics who charge his job performance does not deserve another term -- with elections set for February -- the president reeled out dozens of his projects across the country, including roads, rail, power stations, and irrigation system.