June, 28
2018 Budget had not met Buhari's expectations
On June 20, President Muhammadu Buhari signed the 2018 appropriation bill into law, a month after the National Assembly passed it in parliament, and eight month after he submitted the proposals to the lawmakers.
The 2018 Budget provides for aggregate expenditures of 9.12 trillion Naira, which is 22.6% higher than the 2017 Appropriation.
The crude oil benchmark price was fixed at USD50.50 per barrel, the naira exchange rate was retained at the 2017 Budget level of N305/USD1.
After the signing of the bill, the president noted, with dismay, the cuts made by the National Assembly to the bill he originally presented. He said the legislature made cuts amounting to N347 billion in the allocations to 4,700 projects submitted to them for consideration and introduced 6,403 projects of their own amounting to N578 billion.

"Many of the projects cut are critical and may be difficult, if not impossible, to implement with the reduced allocation. Some of the new projects inserted by the National Assembly have not been properly conceptualized, designed and costed and will therefore be difficult to execute. Moreover, some of the introduced by National Assembly projects relate to matters that are the responsibility of the States and Local Governments, and for which the Federal Government should therefore not be unduly burdened," — said M. Buhari

Projects from which cuts were made are as follows:
1
The provisions for some ongoing critical infrastructure projects in the FCT, Abuja especially major arterial roads and the mass transit rail project, were cut by a total of 7.5 billion Naira.
2
The provision for Rehabilitation and Additional Security Measures for the United Nations Building by the FCT, Abuja was cut by 3.9 billion Naira from 4 billion Naira to 100 million Naira; this will make it impossible for the Federal Government of Nigeria to fulfill its commitment to the United Nations on this project.
3
The provisions for some ongoing critical infrastructure projects in the FCT, Abuja especially major arterial roads and the mass transit rail project, were cut by a total of 7.5 billion Naira.
4
The provision for Rehabilitation and Additional Security Measures for the United Nations Building by the FCT, Abuja was cut by 3.9 billion Naira from 4 billion Naira to 100 million Naira; this will make it impossible for the Federal Government of Nigeria to fulfill its commitment to the United Nations on this project.
5
The provisions for various Strategic Interventions in the health sector such as the upgrade of some tertiary health institutions, transport and storage of vaccines through the cold chain supply system, provision of anti-retroviral drugs for persons on treatment, establishment of chemotherapy centres and procurement of dialysis consumables were cut by an aggregate amount of 7.45 billion Naira.
6
The provision for security infrastructure in the 104 Unity Schools across the country were cut by 3 billion Naira.
7
The provision for the Federal Government's National Housing Programme was cut by 8.7 billion Naira.
8
The provisions for Pension Redemption Fund and Public Service Wage Adjustment was cut by 5 billion Naira.
9
The provisions for Export Expansion Grant (EEG) and Special Economic Zones/Industrial Parks, which are key industrialization initiatives of this Administration, were cut by a total of 14.5 billion Naira.
10
The provision for Construction of the Terminal Building at Enugu Airport was cut from 2 billion Naira to 500 million Naira which will further delay the completion of this critical project.
11
The Take-off Grant for the Maritime University in Delta State, a key strategic initiative of the Federal Government, was cut from 5 billion Naira to 3.4 billion Naira.
The president said he only signed the bill because he didn't want to further slow down the pace of recovery of Nigeria's economy, and further disclosed that he'll send "a supplementary and/or amendment budget" to the national assembly to rectify the critical issues he raised.