Federal Executive Council approves 2017 Budget

Posted by News Express | 1 December 2016 | 2,438 times

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The Federal Executive Council (FEC) on Wednesday approved the 2017 budget proposal for onward submission to the National Assembly for final approval.

The Minister of Budget and National Planning, Mr Udoma Udo Udoma, made this known when he briefed State House correspondents on the outcome of the FEC meeting.

The meeting was presided over by President Muhammadu Buhari at the Presidential Villa, Abuja.

He stated that the approved document would soon be presented to the National Assembly by President Buhari after consultations with the leadership of the Assembly.

“The budget has been approved by the Federal Executive Council, the details, of course, will be revealed when the President presents the budget to the National Assembly.

“With regard to the date, the President will be communicating with the National Assembly and off course, it will be at the National Assembly’s discretion ultimately.

“So, the president will write to them and it is after they confirm, then the president can come to address them.”

On the Medium Term Expenditure Framework (MTEF), the minister stated that the document was prepared after extensive consultation with stakeholders.

He stated that his ministry would continue to ensure regular briefing on the state of the 2016 budget implementation, saying that 80 per cent of the capital allocation of the budget had been released.

The Minister of Power, Works and Housing, Mr Babatunde Fashola, who also addressed correspondents, disclosed that the council had approved the construction of Federal Secretariat Complex in Ekiti State.

According to him, the council has also approved the furnishing of the Federal Secretarial, Gombe State.

He said the Council also approved the Business case for the concession of some Small Hydro dams to achieve Incremental Power supply across the country, adding that the small hydro dams would be adequately utilised.

“The other matter we considered, off course, was in furtherance of our Incremental Power Initiative and our Rural Electrification Initiative and this was in respect to small hydro dams.

“This can help us get more energy, especially to rural areas to support farming; to support irrigation; to support water supply and off course rural electrification.

“So, Council approved the Business Case for concessioning and development of Ikere Gorge dam (Oyo) for 6 megawatts of electricity, Bakolori dam (Zamfara) for 3.2megawatts of electricity; and Jibiya dam (Katsina State) for 4megawatt.

“Zobe dam 0.2 megawatts and Kpape Omi in Kogi dam for 2 megawatts of electricity and Doma dam (Nasarawa) for 1 megawatt of hydroelectricity.”

Fashola said that the small hydro dams would be utilised to further the nation’s quest for incremental energy in the area of renewable energy as “hydroelectricity is also clean energy.” (NAN)

•Photo shows the FEC in session.

Source: News Express

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