Federal Government Presents 2018 Budget To National Assembly Today

The Federal Government plans to spend about 8.6 trillion-naira next year, a jump of about 15% from the 7.44 trillion-naira budgeted for the current year.
By the end of Tuesday, Nigerians will be very aware of how much the government proposes to spend in the 2018 fiscal year.

President Muhammadu Buhari will present the 2018 Appropriation Bill to a joint session of the National Assembly.

The 2018 budget proposal presentation is scheduled to hold at 2:00 p.m. local time.

The Federal Government plans to spend about 8.6 trillion Naira next year, a jump of about 15% from the 7.44 trillion Naira budgeted for the current year.

The figures were contained in the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper, which Buhari had earlier sent to the National Assembly in compliance with the provisions of the Fiscal Responsibility Act, 2007.

It was, however, gathered that leaders of both the Senate and the House of Representatives were making last minute efforts to prevent drama during the presentation.

A source in the Senate, who spoke on condition of anonymity, disclosed on Monday that both the President of the Senate, Bukola Saraki; and Speaker of the House of Representatives, Yakubu Dogara, held series of meetings with members of both chambers to douse the brewing tension since Buhari’s letter informing the lawmakers of the presentation last week.

The source informed one of our correspondents that some members of the House of Representatives specifically had made moves to prevent Buhari from laying the budget proposal on Tuesday, while calling for postponement of the presentation.