President Muhammadu Buhari will today (Wednesday) present the 2017 Appropriation Bill to a joint session of the National Assembly, the second to be presented by the President after his inauguration in May 2015.
Buhari, who will be accompanied by top government officials, is expected to present the document at 10am. The Federal Executive Council had on November 30 approved the document for presentation to the National Assembly.
Speaking to State House correspondents at the end of the council’s meeting, the Minister of Budget and National Planning, Udo Udoma, refused to give details of the budget proposal as approved by the council, stating that it was only the President who would unveil the document on the floor of the National Assembly.
“The 2017 budget has been approved by the Federal Executive Council and the details will be revealed when the President presents the budget to the National Assembly,” Udoma said.
The budget of N6.07tn for 2016 was predicated on a benchmark price of $38 per barrel of crude oil and N197 to a dollar exchange rate.
This comes as members of the House of Representatives have said that the key parameters of the 2017-2019 Medium Term Expenditure Framework upon which the budget will be based are not sustainable, asking the Federal Government to seek more realistic solutions to the economy.
They voiced their opinions as they debated the MTEF in Abuja on Tuesday, less than 24 hours to the presentation of the 2017 budget estimates to the legislature by the President.
Follow Us
