UPDATE: Buhari Set To Waste Another Trillions Of Naira, Presents Ambitious 2017 Budget To NASS

By Amako Nneji December 14, 2016 11:44

UPDATE: Buhari Set To Waste Another Trillions Of Naira, Presents Ambitious 2017 Budget To NASS

President Muhammadu Buhari, has finally presented the 2017 budget of N7.298 trillion, to a joint session of the National Assembly.

The ‎budget, represent a total of 20.4% increase, over the outgoing 2016 budget.

Further breakdown, indicated that ‎N419 billion was allocated for Statutory Transfers, N1.66 trillion for Debt Service, N2.9 trillion for Non-Debt Recurrent Expenditure, and N2.24 trillion for Capital Expenditure.

According to the President, the budget when fully implemented, has the capability of recovering Nigeria from its present state of recession.

He said: “In 2017, we will focus on the development of infrastructure, especially roads, and rail.

“During 2016, we conducted a critical assessment of the power sector, which is experiencing funding issues.

“Though we cannot control the price of crude oil, we are determined to get our production back to at least 2.2 million bpd.

‎”Facilitation of business and commerce, must be the major focus of government agencies.

“Government must not become the bottleneck,” Buhari said.

The President, arrived at the National Assembly Complex, at about 1:58 pm, and was received by the Senate President, Bukola Saraki; and the Speaker, Yakubu Dogara.

After the opening prayers, some minutes after 2 pm, Saraki set the tone for the presentation, and called for closer ties between the Legislature and Executive, and transparency in the budget process.
Earlier

In anticipation of the arrival of President Muhammadu Buhari, who just returned from Gambia, to the National Assembly, to present the 2017 budget, the three entrances leading to the Assembly Complex, Abuja, have been shut by security operatives.

Post-Nigeria, learnt that the situation has rendered entry into the complex a herculean task, as members of staff have been denied access, a situation that has also affected services within the complex.