Ex-CIBN Boss Knocks NASS For Tampering With 2018 Budget

President Buhari addresses a joint session of the National Assembly (photo: State House)

Former president of the Chartered Institute of Bankers of Nigeria (CIBN) Prof. Olusegun Ajibola on Thursday criticised the National Assembly for tampering with provisions for critical projects in the 2018 budget.

The President signed the Bill into law on Wednesday and criticised the federal lawmakers for making some changes.

He had submitted a budget proposal of N8.612 trillion to the federal lawmakers on 7 November, 2017.

However, the legislators increased the proposal by N508 billion to N9.12 trillion, when they passed the Bill on 16 May, 2018.

And Ajibola said it was sad that the federal lawmakers cut N347 billion on 4,700 projects from the estimates submitted for consideration by the executive and introduced 6,403 new projects amounting to N578 billion.

“They included the Mambilla Power Plant Project, Second Niger Bridge, the East-West Road, Bonny-Bodo Road, Lagos to badan Expressway and Itakpe-Ajaokuta Rail Project,” he said.

Ajibola frowned at the action of the National Assembly, saying it would frustrate the infrastructural development initiative of the Federal Government.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *