 While still on the budget proposal, the spending plan proposed by President Mohamed Buhari has a total expenditure of 16.39 trillion naira. Public-private partnerships will feature prominently next year, but there is a huge deficit of 6.26 trillion naira to be financed, mainly by new borrowings. And the expert is advising that all borrowings be local. Plus TV Africa's Massey Ibokbo reports. The 2022 budget of economic growth and sustainability has a projected capital expenditure of 5.35 trillion naira, a non-debt recurring spending of 6.8 trillion naira, and debt servicing projected to cost 3.61 trillion naira. With crude oil averaging $67 a barrel this year, the oil price benchmark for 2022 has been set at $57 per barrel, with an oil production estimate of 1.88 million barons per day. The budget proposal is based on an exchange rate of 410 naira, 15 cobo, to the dollar, and projected GDP growth of 4.2%, while the inflation rate is 13%. But there is a proposed budget deficit of 6.26 trillion naira. We plan to finance the deficit, mainly by new borrowings, totaling 5.01 trillion naira, 90.73 billion naira for privatisation proceeds. President Buhari sought to alleviate over Niger's growing debt. Some have expressed concern over our resort to borrowing to finance our fiscal gaps. They are right to be concerned. However, we believe that the debt level of the federal government is still within sustainable limits, borrowing at specific strategic projects and can be verified publicly. But a sustainability consultant would like the government to look inwards in funding the budget deficit. Currently, MDAs, as well as international oil companies and other very important organisations across the country, they refuse to remit certain funds within their disposal to the federal government. And we know that this fund runs into trillion naira. So I think if the president can actually focus on getting this MDAs and IOCs and other relevant organisations to do the remittance they need to do in respect to their taxes and other obligations to the federal government, maybe we'll just be able to generate just enough money to be able to shove the issue of borrowing to the ground. With the early presentation of the 2022 Appropriation Bill and all things Benicor, Nigeria could well be on track for a budget cycle of 12 calendar months from January to December. Merci beaucoup for Plus TV Africa.