Osinbajo postpones Thursday’s budget signing,
Presidency gives reasons
ON June 1, 2017 6:29 PM / IN News / BY
Tony / Comments



A Presidency official has explained why the budget
signing ceremony billed for today became a no-show.


The official attributed it to the extensive
consultations between the presidency and ministers,
on one hand and National Assembly members on the
other.



The National Assembly on 11 May passed the record
7.44 trillion naira ($24.45 billion) budget for 2017.
Acting President Professor Yemi Osinbajo was
expected to sign the document today and reports had
said he had invited both the Senate President, Bukola
Saraki and Speaker of the House of Representatives,
Yakubu Dogara to the ceremony.


However, some of the ministers were clamouring for
some changes in the budget, as the final figures
approved by the National Assembly were much lower
than what the President submitted.


Last December, President Muhammadu Buhari had
tabled a N7.298trillion budget to the Assembly, but
the lawmakers jacked the final figure to NN7.44
trillion


The budget aims to pull Nigeria out of a recession
that was caused by low global oil prices that have
slashed government revenues, weakened the Naira
and caused chronic dollar shortages.


“There are ongoing consultations between the
executive and the legislature over the budget.
Consultations have not been concluded,” Senator Ita
Enang, senior special assistant to the president on
Senate matters told Reuters.


Last year’s budget, which was passed in May 2016,
similarly faced delays, such that capital expenditure
was extended till 4 May2017, well into another budget
cycle.


www.vanguardngr.com/2017/06/osinbajo-postpones-thursdays-budget-signing-presidency-gives-reasons/

Sarki is disappointed again

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Hope its not what i think...budget paddling!