Nigeria’s acting President, Professor Yemi Osinbajo has finally signed the 2017 budget into law. The budget was signed into law at about 4pm on Tuesday 12th June 2017 after days of story deliberation.

The budget with a final figure of N7.44 trillion presented by the National Assembly was signed in the presence of the Chief of Staff to President Muhammadu Buhari, Abba Kyari; Senate President, Bukola Saraki, Speaker of the House of Representatives, Yakubu Dogara, Ministers and other top government officials.


“I just signed 2017 Budget into law. It’s an important milestone in our economic recovery & growth plan laid in April by President Buhari. While signing the budget moments ago, I noted that our path to progress & abundance is clear. The tools are in place & the resilient, resourceful & hardworking Nigerian people are set to go. I have no doubt that by the grace of God, the bleakness of recession is about to witness the uplifting dawn of abundance. God bless the Federal Republic of Nigeria,” said Prof. Yemi Osiinbajo.

President Muhammadu Buhari who has been absent and silent for 35days gave the vice president the go-ahead to sign the budget. This was made known in a statement issued by the Senior Special Assistant to President Buhari on Media and Publicity, Garba Shehu.

“Following the receipt of a full brief on the 2017 Appropriation Bill as passed by the National Assembly, and to buttress the unity at the highest level of government, President Muhammadu Buhari has indicated that it is in the interest of the nation’s economy for the Acting President, Professor Yemi Osinbajo, to sign the Appropriation Bill into law. “In a letter dated June 10, 2017, which he personally signed and addressed to the Minister of Budget and National Planning, Senator Udoma Udo Udoma, the President also said he was ‘pleased by the joint resolution that the Executive would submit next year’s budget proposals by October 2017 and the National Assembly will conclude the Appropriation process by December 2017, so that the country can return to a normal fiscal period from next year onwards,’” the statement read.

It will be recalled that the Presidency presented a proposed budget of N7.3 trillion in December 2016 but the Nation Assembly increased it to N7.44 trillion. Nigerians are hopeful that this budget that has finally been signed would help get the country out of recession.

Comments

Elsewhere on Ventures

Triangle arrow