Nigeria’s President Muhammadu Buhari, has unveiled a record budget of more than 7 trillion Naira ($24bn; £19bn) which is aimed at pulling the country out of its first recession in 25 years, Reuters news agency reports.
Presenting the budget at a joint sitting of the National Assembly and Senate, Mr Buhari said It marks an increase of more than 20% on last year’s spending plan.
The budget seeks to boost spending to revive the economy, he added.
The recession was largely caused by low global oil prices, as crude sales account for two-thirds of the Nigerian government’s revenue.
The president also said he wants to restore oil output to 2.2 million barrels per day.
It had been severely disrupted following a series of attacks on energy facilities in the oil-rich Niger Delta by militants demanding a greater of the region’s oil wealth.
The budget unveiled to the National Assembly is now to be debated by the MPs.
It must be agreed by the parliament before Mr Buhari can sign it into law.
