FG assures speedy implementation of 2017 Budget

Posted by News Express | 23 October 2016 | 2,592 times

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The Nigerian Government has assured that it will begin the implementation of the 2017 Budgets from January 1.

Addressing journalists on Friday, the Senior Special Assistant to the President on National Assembly matters (Senate), Senator Ita Enang, assured that the government has put everything in place to achieve its set goal and target.

President Muhammadu Buhari had earlier this month forwarded the 2017 Medium Term Expenditure Framework (MTEF) to the National Assembly for approval.

The MTEF shows the Federal government expenditure plan of N6.812trn as its budget for 2017.

The MTEF was set with an oil benchmark of $42.50 per barrel, against $38 for 2016, and an average Exchange Rate of N290 to the US Dollar as against the proposed N197 in 2016.

The document also shows a proposed plan by the federal government to spend N65 billion on Amnesty Programme while 350 billion will be spent on the special intervention Programme in 2017.

It also assumed an oil production of 2.2 million barrel per day in 2017.

The new budget is over N700 billion higher than the previous year.

The Senate began deliberations on during plenary on Thursday.

Senator Enang who urged Nigerians to be patient with the government also commended the leadership of the Senate for the speedy consideration given to the budget.

He said, “The dexterity, speed, thorough attention, legal touch and expertise deployed by senate and its committees in considering and handling matters of the executive is worth commendations.”

To achieve achieving the proposed 2017 budget, the government said it would improve its revenue creation from non-oil sectors, intensify economic diversification, promote transparency and accountability as well as pursue social development programme. (TV360 Nigeria)

•Photo shows Senator Ita Enang.

Source: News Express

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