President Buhari signs budget
into law
– President Buhari has finally signed the
2016 budget into law
– N351bn for statutory transfers, N1.4trn for
debt service, N2.6trn for recurrent
expenditure, and N1.5trn as capital
expenditure listed in the budget
– Buhari says living in the State House does
not alienate him from his daily struggle
President Muhammadu Buhari has assented
to the 2016 budget.
This was contained in a statement by one of
presidential media aides Bashir Ahmaad :
The #Budget2016 was signed into law at
exactly 12:32pm by President
Muhammadu Buhari inside his office at
the Presidential Villa, Abuja.
— Bashir Ahmad (@BashirAhmaad) May
6, 2016
The ceremony of signing the main national
document was attended by the Vice
President, Professor Yemi Osinbajo, and the
chairmen of the National Assembly
appropriation committees.
Speaking on the implementation of budget
Buhari said: “Living in the State House does
not alienate me from your daily struggles. I
hear your cries, I share your pains.
“I commend the sacrifice, resilience,
toughness of all Nigerians, who have
continued to have hope and confidence of a
great future.
“This government is like no other. We are
absolutely committed to changing the structure
of the Nigerian economy once and for all.
“I can’t promise that it will be an easy journey,
but can assure this govt you have freely
elected will work with honesty & dedication
“I shall speak in more details about the overall
economic and social policies of the govt in my
address on May 29, God willing.”
The Nigerian leader has presented a N6.08
trillion budget for the fiscal year 2016 on
December 22, 2015.
It was the first in three years that a Nigerian
president had personally presented a budget
to the National Assembly.
There was a short controversy when the
budget went missing from the NASS, when
no-one could trace the document presented
by Buhari.
But that matter was rapidly fixed and the
president received fresh document.
Later President Buhari refused to sign the
main document because he did not know the
exact content.
Exactly, the Nigerian president returned
budget for three times.
Finally, the National Assembly submitted a
clean copy of the budget to President
Buhari.
President had suspended assent after some
changes were noticed in the document.
The government announced yesterday it had
listed out 34 strategic priority programmes
and projects it intended to achieve with the
2016 budget.
It also plans to increase local production of
maize, soya beans, poultry and livestock and
to stop import.
See how the budget changed:
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