Buhari may not assent to 2018 budget

Senator Udo Udoma, the Minister for Budget and National Planning has revealed that President Muhammadu Buhari might not agree to assent to the 2018 budget which was recently raised to N9.1 trillion by the National Assembly.

The National Assembly made an additional N501 billion to the budget from the initial figures proposed by President Buhari.

This was revealed by the Special Adviser on Media to the Minister, Akpandem James, who said that the N501 billion addition by the legislature might not be feasible.

Senator Udoma maintained 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.

He said: “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,”

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.