Buhari to sign 2018 budget on Tuesday

President Muhammadu Buhari will sign the 2018 Appropriation Bill into law on Tuesday, Minister of Information, Lai Mohammed, told Reuters in London on Friday.

The Special Adviser to the President on Media and Publicity, Femi Adesina, had on Wednesday told newsmen after the Federal Executive Council meeting that President Buhari would sign the budget next week. But, he did not give a specific date.

“The budget will be signed next week. We will give you the specific date when it is confirmed,” Adesina said, stressing that the details would be made available later.

However, Mohammed was precise on the specific date. “We will sign it off on Tuesday,” he disclosed.

Read Also: Buhari to sign 2018 budget next week

President Buhari had in November 2017 submitted the 2018 budget estimate of N8.612 trillion to the National Assembly, but the lawmakers jerked up the budget figures by N508 billion to N9.12 trillion, claiming it was done with “due consultation of the executive.”

The lawmakers explained that the increase was applied to critical sectors of the economy, including the reduction of the budget deficit, security, health and power, works and housing.

While concerns are being raised by Nigerians over the negative effects of the delay on the economy, Finance Minister Kemi Adeosun had in May assured that the Federal Government would mitigate the negative impact of the delay in the implementation of the 2018 budget on the economy.

She noted the Federal Government would have to realign its priorities since five months had gone already.

But, the Information Minister said he expected the delay would have little effect on government projects.

“Even once a budget is passed, there are still processes, due diligence to be done … this takes,” Reuters reported

The National Assembly had delayed the budget passage for more than six months and another 10 days before transmitting it to the Presidency.

Should the budget be signed on Tuesday, it would be the most delayed budget since the return of democracy in 1999 having spent 223 days before becoming a law.

 

RipplesNigeria… without borders, without fears

Click here to join the Ripples Nigeria WhatsApp group for latest updates.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now