The Presidential Candidate of the Social Democratic Party (SDP), has reacted to the presentation and details of the 2019 budget by President Muhammadu Buhari on Wednesday at the National Assembly
Buhari had on Wednesday presented a proposed N8.83trn fiscal 2019 budget to a joint session of the National Assembly.
In the budget, oil prices was estimated at $60 per barrel while production was 2.3m per day.
“The 2019 Budget proposal is based on the following assumptions: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.
“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,” Buhari said.
But, reacting, Duke took to his Twitter page criticising the proposed oil price and production by President Buhari.
The former Governor of Cross River state noted that the forecast of oil price and production by the President shows his government is not taking Nigerians forward.
He also condemned President Buhari for presenting 2019 budget in December.
Duke wrote: “Submitting a budget in December for 2019, assuming an oil price of $60 when current prices are mid $50’s, forecasting oil production at 2.3m a day when this years average is 1.9m tells us these folk in government are taking us nowhere.”