Buhari Set To Present 2017 Budget To NASS

President Muhammadu Buhari presents the 2016 Budget before the National Assembly. Photo: AFP

By Concise News correspondents

Nigeria’s 2017 budget is ready as President Muhammadu Buhari is set to present the appropriation bill before a joint session of the National Assembly.

The budget was given speedy consideration and approval by the Federal Executive Council on Wednesday.

The weekly meeting was presided by President Buhari at the Presidential Villa, Abuja.

Details not revealed

Nigeria’s Minister of Budget and National Planning Senator Udoma Udo Udoma, however, did not disclose details of the document to journalists.

He simply said the President would soon write the leadership of the National Assembly, proposing a date when he would present the fiscal document.

Senator Udoma along with the Minister of Power, Works and Housing Babatunde Fashola, said the lawmakers would decide the date for presentation.

“The budget has been approved by the Federal Executive Council and the details will be revealed when the president presents the budget to the National Assembly,” Udoma said.

2016 budget fully implemented – Udoma

“With respect to ‎implementation of the 2016 budget, we have revenue constraints. We have paid all personnel in full. We meet all our personal emoluments in full.”

The minister of budget also spoke on the controversy that trailed the submission of the Medium Term Expenditure Framework (MTEF) by the presidency.

Udoma said the MTEF was a very well prepared document after extensive consultations.

“We consulted the private sector and Non-Governmental Organisations (NGOs).

MTEF in order

Udoma believes the assumptions of the MTEF were true and correct as of the time the document was prepared in August this year.

“One of the issues they raised was the exchange rate, that we used N290 as the exchange rate, and that was the exchange rate of the time.

“So, you only use the exchange rate that is valid at that time. Naturally, by now you will change that.

”So, whenever we appear before the national assembly, we’ll engage them and take them through each item.”

On his part, Fashola said FEC also approved the commencement of the Federal Secretariat complex in Ekiti State.

The minister of works and housing recalled that the project was conceived way back in 2000, but no funding was provided for it.

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