Tuesday, April 17, 2018 10.00AM / Proshare WebTV
As Nigerians await the passage and signing of the 2018 budget, The Minister of State, Budget & National Planning Mrs Zainab Ahmed recently gave a brief insight on the issues around the budget.
According to her, the 2017 budget implementation is still ongoing on the capital side, but recurrent expenditure and service personnel has been implemented almost 100%. The capital budget releases as at today is at an average of 50% because implementation will be measured after the budget year closes out.
She was optimistic that Nigerians will eventually see the impact of the 2018 budget when it is signed into law.
The Minister confirmed that the 2018 budget preparation is at its final stages in the National Assembly, and should be passed by the end of April for transmission to the President.
President Muhammadu Buhari presented the 2018 Budget to the National Assembly in November, 2017 with the size of N8.6trillion, retaining 30% for capital expenditure and 70% for recurrent expenditure.
The 2018 Budget is tagged “Budget of Consolidation” seeking to leverage on the 2016 and 2017 budgets.
In other to hasten the budgetary process the President ordered the Ministries, Departments and Agencies(MDAs) to defend their 2018 budget proposals before the National Assembly.