Minister of Budget and National Planning, Senator Udoma Udo Udoma, has indicated that President Muhammadu Buhari won’t not consent to the 2018 budget as of late raised to N9.1 trillion by the National Assembly with extra N501 billion.
Special Adviser on Media to the Minister, Akpandem James, addressing Sun said the N501 billion expansion by the council won’t be plausible.
Udoma said the National Assembly would need to tell Nigerians in the event that they have found another income stream obscure to the Federal Government to cover the raise.
“When we see the details, we will be in a better position to know how they came about it. “We will see if they have discovered another revenue stream, which we were not aware of, or just relying on increased crude oil price,” he said.
The senate increased the appropriation bill from the N8.612 trillion proposed by President Buhari, to N9.12 trillion. The crude oil benchmark price of the budget was also increased from $45 to $50.5.
According to the document laid at the House on Tuesday, N530,421,368,624 was proposed for statutory transfer; N2,869,600,351,825 for development fund for capital expenditure; N3,516,477,902,077 for recurrent (non debt) expenditure while N2,203,835,365,699 is for debt service; and N199bn for sinking fund for maturing loan.
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