The Federal Government, yesterday reveled 2016 budget proposal of N6
trillion, allocating 30 per cent of the budget to capital expenditure. The proposed budget is predicated on crude oil price of $38 per barrel and crude oil production of 2.2 million barrel per day. The 2016 proposed budget is about N1.62 trillion or 27 per cent higher than what was proposed for the 2015 budget, which was N4.9 trillion.
