He said, “We have inflation and exchange rate for the dollar, the executive proposed N750 to the dollar, but after we studied carefully, we looked at it, it is unrealistic.

“So we increased to N800. And also we had a meeting with the GOEs, we believe that their submission is not enough. They have agreed to increase their revenue. That is how we are able to get that N1.2 trillion, which we applied to capital.

“This is the first time the capital is bigger than recurrent. We appropriate about N850 billion to education, we gave them a lot of money. I believe this budget is brilliant and Nigerians will see a lot of impacts”.

A breakdown of the Appropriation Bill passed by the National Assembly indicates that N1,742,786,788,150 is for statutory transfers; N8,270,960,606,831, debt servicing; N8,768, 513, 380, 852, recurrent (non-debt) expenditure and N 9,995,143,298,028 as contribution to development fund for capital expenditure.