Presidency Explains Botched 2017 Budget Assent

A Presidency official has explained why the budget signing ceremony billed for yesterday became a no-show.
The official attributed it to the extensive consultations between the Presidency and Ministers, on one hand and National Assembly members on the other.
The National Assembly, had on May 11, passed the record N7.44trillion ($24.45billion) budget for 2017.
Acting President, Prof Yemi Osinbajo was expected to sign the document, yesterday, and reports had said he had invited the Senate President, Dr Bukola Saraki and Speaker of the House of Representatives, Yakubu Dogara, to the ceremony.
However, sources said some of the ministers were clamouring for some changes in the budget, as the final figures approved by the National Assembly were much lower than what the president submitted.
Last December, President Muhammadu Buhari, had tabled a N7.298trillion budget to the Assembly, but the lawmakers jacked the final figure to NN7.44trillion
The budget aims to drag the country out of a recession that was caused by low global oil prices that have slashed government revenues, weakened the Naira and caused chronic dollar shortages.
“There are ongoing consultations between the executive and the legislature over the budget. Consultations have not been concluded,” Senior Special Assistant to the President on Senate Matters, Senator Ita Enang, said.
Last year’s budget, which was passed in May 2016, similarly faced delays, such that capital expenditure was extended till May 4, 2017, well into another budget cycle.