The Presidency has explained what is holding it back from presenting the 2017 budget to the National Assembly.
President Muhammadu Buhari presenting the 2016 Budget at the National Assembly
The Presidency on Friday revealed why it is yet to present 2017 Budget. It said the budget will not be presented to the National Assembly until the conclusion and approval of the Medium Term Expenditure Framework/Fiscal Strategy Paper by the legislature.
President Muhammadu Buhari had a fortnight ago submitted the 2017-2019 MTEF/FSP to the National Assembly for consideration and approval.
The Senior Special Assistant on National Assembly Matters (Senate), Senator Ita Enang, promised that government agencies are already working toward the 2017 Budget proposal.
Enang said: “I want to assure you that, first, the budget implementation for 2016 is going on very well and everything.
“It is going on as expected and appropriated.
“The Expenditure and Fiscal Strategy Paper, Mr. President has submitted that to the National Assembly – Senate and House of Representatives – and they are considering it.
“It is what is approved by the National Assembly and the parameters such as the exchange rate, oil price benchmark, volume of the budget, borrowing plan and other parameters that are contained therein that may be approved or as may he approved by the National Assembly that will be used in concluding the budget estimates.
“I want to assure you that on the part of the Executive, the budget will be concluded and presented such that the budget will be considered and approved, working with every person, within the year, such that the implementation can start by 1st of January, 2017.
“That is the expectation of the Executive and that is what Mr. President, the Vice President and the honorable ministers are working towards.
“Therefore, I want us to relax and be assured that all will be done within the time.
“Definitely, we are working together with the legislature on getting MTEF and FSP passed that it will guide us in the conclusion of budget details.”