Backstory: Moment Buhari laid down the 2019 budget at the National Assembly

2019 BUDGET SPEECH (BUDGET OF CONTINUITY)

Delivered by:

His Excellency, President Muhammadu Buhari, President, Federal Republic of Nigeria At the Joint Session of the National Assembly, Abuja, wednesday, 19th December 2018

PROTOCOLS –

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.

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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.

See full speech on www.oak.tv

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