The Minister of Finance, Dr Olusegun Aganga, has hailed the signing into law of the 2011 budget and the Sovereign Wealth Fund by President Goodluck Jonathan.

Addressing newsmen in Abuja at the weekend, Aganga commended all the relevant agencies and bodies responsible for the preparation, passage and final assent of the president of the budget, stressing that the budget would bring about stronger economy and a sound macroeconomic environment that would ensure that Nigerians were employed, prosperous and able to engage their numerous talents in building a great nation.

Aganga said the budget assumed total revenues of N3.348 trillion based on a benchmark oil price of $75 a barrel, meaning the budget deficit would stand at 2.96 per cent.

President Jonathan originally proposed a N4.226 trillion budget in December, but lawmakers inflated the budget three months later to N4.972 trillion, a proposal the president rejected.

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