Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.

 

Buhari’s budget presentation dismissed as unfeasible

15 December 2016, 09:47

Abuja - A global markets watcher has criticised the 2017 budget President Muhammadu Buhari presented on Wednesday as unrealistic.

Rand Merchant Bank, the South African based financial firm, said the budget seemed “overly ambitious” in its targets.

“Our biggest concern with the budget is underlying assumptions,” said RMB in its global markets update on Thursday.

Also read:Full speech of President Buhari’s 2017 budget presentation

It said firstly, the budget assumed an exchange rate of US$/NGN305, which points to the reluctance of the authorities to relax the foreign exchange restrictions.

Secondly, RMB stated, the budget assumes oil production level of 2.2 million barrels per day, seems “too optimistic” considering the debilitating impact that the Niger Delta Avengers has had on oil infrastructure.

The financial house said at this stage, it was hard to see a speedy resolution to the conflict, which would see production increase to the levels assumed by the budget.

- CAJ News

NEXT ON NEWS24 NIGERIAX
&nbps;

Read more from our Users

Submitted by
Isaac Asabor263
Separating kitchen politics from ...

Like everyone else, I believe that the most popular definition of democracy is “government of the people, by the people and for the people”. Read more...

Submitted by
Bethel Tanifo
Ministry of Niger Delta Affairs, ...

Like NDDC Unlike MONDA. This notion is an intuition that does not portend political participation, affiliation, intrusion or aggression but a submission with the intention of completion of the previous administration's noble vision. Read more...

Submitted by
Bethel Tanifo
Nigerian Constitution versus Corr...

The problems of Nigeria is not in its conventional composition, formation, functionality, constitution or treaty, while the solutions are not disintegrations as promulgated by some faiths fanatics and bigotries.  Read more...

Submitted by
Abdulsalam Jubril
Much Ado about Trump’s Presidency

It was unbelievable when the social and mainstream media all over the world began airing the breaking news of Donald Trump’s victory in the most contentious US Presidential elections in recent years. Read more...

Submitted by
Mike Daemon
Nigerian author highlights gay ch...

A new novel by a prolific young Nigerian author features gay characters, which could help increase the visibility of the gay community and possibly lead to greater understanding of LGBT Nigerians. Read more...

Submitted by
Isaac Asabor263
Your Excellency, I will call you ...

Your Excellency, Governor Adams Oshiomhole, as a leader that pays attention to details, I understand that the odd title of this piece would definitely arouse your curiosity.  Read more...