Minister of Finance, Mrs Kemi
Adeosun, said the delay in passage of the 2018 budget would have some impact on
the nation and cause some adjustments in implementation.
She said this during a news
conference on Friday in Abuja, adding that the impact was because markets
change and the cost of money in the market changes too.
Adeosun, however, said that the
Federal Government would try to mitigate the effects of the delay.
“Honestly, we may need to realign
some of the priorities now because what we thought we would be doing in January
is now different from what we are going to do.
“So, we are going to have to look
very closely to see where we would realign and re-prioritise, but we will carry
on because most of the capital projects are multiyear projects so we will just
continue.
“We are going to try and mitigate
that impact as much as possible and focus on completing projects.’’
The minister said the fact that
the 2017 budget cycle began late in the year had helped a great deal.
“What has helped us is the fact
that the budget was passed late last year, and what we did was we just carried
on with those projects, we will close this year’s budget with capital expenses
in excess of N1.5 trillion which is higher than last year.
“Many of these projects are
multiyear projects, so hopefully, there will not be too much disruptions.”
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