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2018 Nigerian budget may suffer another setback

2018 Nigerian budget may suffer another setback

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The National Assembly (NASS) passed the 2018 Budget last Wednesday after jacking it up from N8.6 trillion to N9.12 trillion as a result of increase in the price of crude oil.

However, Mr Akpandem James, Special Adviser on Media to the Minister of Budget and National Planning, Senator Udoma Udo Udoma, told Daily Sun that President Buhari might not assent to the raised 2018 budget .

He added that the National Assembly would have to tell Nigerians if they have discovered another revenue stream unknown to the Federal Government to cover the raise.

“My brother, when we see the details, we will be in a better position to know how they came about it. We will see if they have discovered another revenue stream, which we were not aware of, or just relying on increased crude oil price,” he said.

The Appropriation Bill was increased from the N8.612 trillion proposed by President Buhari, to N9.12 trillion. The crude oil benchmark price of the budget was also increased from $45 to $50.5.

A copy of the 2018 budget passed the NASS will be sent President Buhari this week, according to the House of Representatives.

The National Assembly passed the N9.12tn budget on Wednesday last week after the Appropriation Bill had spent more than six months at the legislature.

 

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