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Osinbajo receives 2017 budget, soon to sign it

Presidency confirms Ripples Nigeria story on reason for delay in signing 2017 budget

At last the Nigerian parliament, has forwarded the 2017 budget of N7.44 trillion naira ($23.62 billion) to the Acting President, Yemi Osinbajo for assent into law.

This was confirmed by an official in the executive arm of government, who pleaded for anonymity on Friday.

Also confirming the development, the senior special assistant to the president on Senate matters, Ita Enang, said the spending plan is aimed at pulling Africa’s largest economy out of its downturn.

“After I handed the budget, as passed by the National Assembly, to the acting president he said he would assent to it after the laid-down procedure,” Enang told journalists in Abuja, after leaving a meeting with Osinbajo.

Read also: How Buhari, APC’s poor ideas put Nigeria in recession –Soludo

Last year’s budget — passed in May 2016 — was delayed for months due to disagreements between lawmakers and the presidency, which froze the allocation of money for government projects and deepened the economic crisis. Lawmakers had vowed to pass the bill more quickly this year.

The upper and lower chambers of parliament agreed to a larger budget than the 7.298 trillion naira draft submitted by Buhari in December.

The 2017 budget is based on an assumed oil price this year of $44.50 a barrel, while global benchmark for Brent crude is currently trading above $50. It also entails debt service for foreign borrowing of 175.9 billion naira and domestic borrowing of 1.488 trillion naira.

 

 

 

 

 

 

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  • Anita Kingsley

    I think Liar Mohammed can now go to bed as Osinbajo has received the budget he’ll proudly assent to. Who else is still doubting Osinbajo’s right to act in Buhari’s place on this budget?

    • Joy Madu

      Why should they doubt osinbajo when we all know is his right to sign the budget when the president is not there the vice is there to take over

  • Animashaun Ayodeji

    Nigeria’s leaders are full of useless controversies, yesterday, they were arguing who will assent to the 2017 budget, even Osinbajo’s aid threw jabs at the presidency, but the story has now changed, Ita Enang who earlier claimed Buhari will assent to the budget confirmed Osinbajo will, something must be wrong with their brains

  • Agbor Chris

    APC’s government is just so confused, does it really matter if Buhari or Osinbajo signs the budget? I don’t really understand why there should he any issue from it. All of them should go to hell abeg

    • seyi jelili

      You know to the Northerners cabals, it looks like relegation of buhari, if they are to have their ways, they would have prefer even buhari dying on sick bed to sign the budget

      • JOHNSON PETER

        Then they should take the budget to London where their man is receiving treatment

  • yanju omotodun

    This country, if Osinbajo has received the budget, then why is the revealer pleading for anonymity when it’s not an illegal thing
    Nonsense

    • JOHNSON PETER

      Just forget that, our own is that the budget should be signed next week unfailingly