Updated: Presidency finally receives official copy of 2017 budget

Updated: Presidency finally receives official copy of 2017 budget

Acting President Yemi Osinbajo on Friday received the official copy of the 2017 appropriation.

The budget which was finally submitted to the Presidency twelve days after it was approved by the National Assembly was delivered to the Presidency by the Presidential Laison to the Senate, Ita Enang.

He used the opportunity to clarify that the Acting President has the power to assent to the budget and any other bill to be assented to by the President.
The Senate and House of Representatives had on the 11th May 2017 approved N7.441 trillion for the 2017 fiscal year. The 2017 budget showed a 2.18 percent deficit of N2,356,773,720,940; oil production pegged at 2.2mbpd and $44.5 crude oil benchmark and N305/$1 exchange rate.
Speaking with journalists after submitting the 2017 appropriation bill in a closed door meeting with Acting President at the State House Abuja, Enang said he assured that the budget will be passed after conforming to laid down procedures.
“The budget as passed by the National Assembly has just been transmitted to the Acting President. I just delivered it.
“Let me use this opportunity to clarify an issue. The Acting President has the power to assent to the budget and he will assent to it when the processes are completed.
“The Acting President has the power to assent to the budget.
“In February, he assented to 7 or 8 bills. Those that he didn’t agree with, he wrote the Senate and House of Representatives that he had withheld his assent from them.
“He has the power of the president to assent to it.
“But the assent to the Appropriation Bill will be after the completion of the standard operation process. The bill has 30 days within which it will be assented to but the process can be completed within two or three days.
“So, it is not possible to say it will be assented to in so, so and so day or in two or three days. It’s upon the completipn of the process that it will be assented to by the president and the president here now is the acting president” he said.
Elizabeth Archibong

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