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Friday, May 06, 2016

At last, Buhari signs 2016 budget into law

The President, Alhaji Muhammadu Buhari, today, Friday, May 6, 2016, signed into law the 2016 budget in a brisk ceremony at the Presidential Villa, Federal Capital Territory, Abuja, reports ITRealms.

This is the first budget to be signed by Prsident Buhari since assuming office on May 29, 2015.
He endorsed the much awaited harmonised budget in the company of the Vice President, Professor Yemi Osinbajo, chairmen of the National Assembly appropriation committees, his political aides led by the special adviser to the National Assembly, Senator Ita Enang, Senate President Bukola Saraki, speaker House of Representatives, Hon. Dongara and Finance Minister, Femi Adeosun.

Others were the national chairman, Chief Oyegun, Minister of budget and National Planning, Udo Udoma, among others.

ITRealms recalls that President Buhari had withheld assent after some alterations were noticed in the document.

However the Federal government yesterday unveiled a 34-strategic priority programmes and projects it intend to achieve with the 2016 budget.

According to Channels Tv report, these include a capital spending of minimum of 30 per cent annually, an appropriate and predictable exchange regime by the end of 2016, increased low interest lending rate of 9 per cent, self-sufficiency in tomato paste in 2016 and rice production by 2018.
In addition, the FG says it plans to increase local production of maize, soya beans, poultry and livestock and to stop import.

•Pux: shows President Buhari signing the 2016 Budget.

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