Nigeria’s President, Muhammad Buhari has written to the National Assembly on the 2018 Appropriation Bill presentation.
Buhari, who was out of the country for more than three months has been working for home owing to a refurbishment being done in the President’s Office. The 2017 budget is still in the running with several letters written to the National Assembly for additional projects being included in the budget as Nigeria works hard to put an end to the constant deficits in its budget as a result of loans being sourced for to finance the budgets.
Last week, Senate President, Bukola Saraki claimed that the Senate is ready to discuss and review the 2018 budget in order to avoid the lateness that has always plagued previous years and leads to the reduced effectiveness of such budgets and also , corruption.
The 2017 budget which was passed earlier this year after long arguments, jibes and extended protests over the cutting of vital projects by the house from the Ministers has been followed adequately and monies used judiciously, according to the government.
Recall that Minister of Finance, Kemi Adeosun announced that Nigeria will be sourcing for a $5.5bn loan which will be repayable back within a 30-year period. This received criticisms from Nigeria with questions pointing at the usefulness of the previous N7.1trn budget as there are no great developments seen yet in the country.
