Buhari presents budget to National Assembly next week

Posted by FN Editor | 4 years ago | 1,184 times



The Presidency on Tuesday gave reasons President Muhammadu Buhari didn’t keep to his administration’s promise to present the 2020 budget to the National Assembly in the third week of September.

It also said Buhari, who would visit South Africa this week, would present the budget next week.

Nigeria currently runs a May-June budget cycle, a development caused by executive-legislature delays since the 8th National Assembly. The delays have caused “distortions” in implementation and the inability to meet budget targets.

On why Buhari was unable to keep to his promise of September presentation, the Presidency blamed it on the fact that the National Assembly had yet to consider and pass the 2020-2022 Medium Term Expenditure Framework and Fiscal Strategic Paper, which should ordinarily precede the estimates.

It also noted that throughout last week, Buhari was away to the United States, where he participated in the activities of the 74th Session of the United Nations General Assembly.

It added that the UNGA session would still have delayed the presentation had the National Assembly passed the MTEF.

 


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