President Buhari presented the N6.08 billion 2016 budget to the National Assembly members on Tuesday morning.
During his speech, President Buhari said Nigeria remains committed to diversification to build and reflate the economy.
On the current fuel scarcity, Buhari apologized to Nigerians & blamed it on some stakeholders who have refused to embrace change. He said fuel pump price will remain at N87 for now, and may inflate or plummet depending on the crude price.
He said the trust in government is at an all-time low, at the moment, but that his government will not betray the trust put in them by the masses.
He said his government has the will, resources and commitment to deliver to the Nigerian people.
He announced that a Conditional Cash Transfers to the poor will be created and that it will be managed by the Vice President’s office.
On the educational sector, Buhari said 500,000 teachers will be recruited.
On the diversification of the economy, Buhari said young farmers and miners will be encouraged and supported.
He added that N1.884 Trillion shall be borrowed to fund the budget.