Appropriation bill to be presented by Presidency next week
2 December 2016 National
President Muhammadu Buhari is expected to present the 2017 appropriation bill to the National Assembly next week.
The Minister of Budget and National Planning, Senator Udo Udoma, disclosed the plan after the Federal Executive Council meeting which took place at Abuja, the Federal Territory.
Udoma said the exact date and time for the budget presentation would be determined by the National Assembly.
Udoma however disagreed with the Senate, the upper house of legislature, which said the 2017-2019 Medium Term Expenditure Framework (MTEF) and Fiscal Sustainability Paper submitted by President Buhari was empty.
According to him, the MTEF was very well prepared by experienced experts and the assumptions in the document were not unrealistic as suggested by Senators.
In a related development, President Muhammadu Buhari has reportedly proposed a N7.2trillion budget for 2017, according to a Daily Trust report.
The president was said to have presented the proposed 2017 Appropriation Bill at the Federal Executive Council (FEC) meeting on Wednesday, November 30 during which it was approved.
“The budget estimate that will be laid before the National Assembly for the year 2017 is N7.2 trillion. This is what FEC approved,” Daily Trust quoted a source as saying.
The approval of the budget, which is about 24 per cent higher than the 2016 budget which is N6.06 trillion, was confirmed by Minister of budget and planning Udoma Udo Udoma while briefing State House correspondents after the meeting on Wednesday.
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