Economy

Buhari yet to receive 2018 Appropriation Bill – Udoma

by Tony Ailemen , Abuja

May 23, 2018 | 6:55 pm
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The Federal Executive Council ( FEC) Wednesday expressed worries that the recently passed 2018 budget is yet to be transmitted to President Muhammadu Buhari for his assent.

The Minister of Budget and National Planning, Udoma Udo Udoma, stated this while briefing Stare House Correspondents after the weekly FEC meeting presided over by President Muhammadu Buhari.

Udo Udoma lamented that a week after the 2018 budget was passed by the two chambers of the National Assembly, President Muhammadu Buhari is yet to have it transmitted to him for assent.

He said the delay would have a negative impact on the economy, even though the Government was ready to cushion the shocks that might arise as a result of the delay in the passage of the 2018 budget which was described as the longest ever.

The Minister dismissed claims credited to him in the media that President Buhari would not sign the budget.

“The President is yet to receive the budget, it is therefore impossible to make a statement about the budget that has not been received.

“Once we get it, we will work very quickly on it. When it is submitted, I am sure the National Assembly themselves will inform Nigerians,” Udoma said.

The Budget minister noted that despite challenges, the economy was looking up with a current GDP growth rate of 1.95percent in the first quarter of 2018.

According to him, the GDP of the economy would peg at 3.5percent despite these short comings by the fourth quarter of 2018, adding that the foreign reserves were also growing at a steady pace pegging at $47billion as at May 2018.

The 2018 budget , it will be recalled, was passed by both Houses of the National Assembly on May 16, 2018 about six months after it was submitted by Buhari on November 7, 2017, with the budget figure raised from N8.6 trillion to N9.1 trillion.

 

Tony Ailemen , Abuja


by Tony Ailemen , Abuja

May 23, 2018 | 6:55 pm
12893  |   93   |   0  |   Start Conversation

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