Minister of Budget and National
Planning, Senator Udoma Udo Udoma has hinted that President Muhammadu Buhari might
not assent to the 2018 budget recently raised to N9.1 trillion by the National
Assembly, with additional N501 billion.
Special Adviser on Media to the
Minister, Akpandem James speaking to Sun said the N501 billion addition by the
legislature might not be feasible.
Udoma said the National Assembly
would have to tell Nigerians if they have discovered another revenue stream
unknown to the Federal Government to cover the addition.
“When we see the details, we will
be in a better position to know how they came about it.
“We will see if they have
discovered another revenue stream, which we were not aware of, or just relying
on increased crude oil price,” he said.
The senate increased the
appropriation Bill from the N8.612 trillion proposed by President Buhari, to
N9.12 trillion. The crude oil benchmark price of the budget was also increased
from $45 to $50.5.
According to the document laid at
the House on Tuesday, N530,421,368,624 was proposed for statutory transfer;
N2,869,600,351,825 for development fund for capital expenditure; N3,516,477,902,077
for recurrent (non-debt) expenditure while N2,203,835,365,699 is for debt
service; and N199bn for maturing loan.
Click to signup for FREE news updates, latest information and hottest gists everyday
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com