2018: President Buhari Presents Budget To National Assembly Today
President Muhammadu Buhari presented the 2018 budget proposals to a joint session of the National Assembly on Tuesday, November 7, 2017.
The 2018 budget proposal presentation was scheduled to hold at 2pm., amid there are concerns over the poor implementation of this year’s estimates.
The N7.6 trillion 2017 budget, which commenced in June, has N2.17 trillion as capital votes, but so far only about N450 billion of the capital budget was released by government.
Only few ministries such as power, works, housing, defence, transport and agriculture have so far received funding.
For 2018, the Federal Government plans to spend about N8.6tn, an increase of about 15 per cent from the N7.44tn 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.