Breaking: The budget which has not yet been sent to the National Assembly, has been approved by the Federal Executive Council (FEC)

Abuja, (AN24) – President Muhammadu Buhari today, Thursday, September 15, 2016, unveiled some details of the 2017 budget.

The President gave an insight into the 2017 budget during a retreat for ministries and some of the heads of agencies at the Federal Capital Territory, Abuja.

The budget which has not yet been sent to the National Assembly, has been approved by the Federal Executive Council (FEC) and is focusing largely on pumping funds into capital projects to get the economy running again, the New Agency of Nigeria (NAN) reports.

According to NAN,  “The government is trying to align the budget to the reality on ground and on how to pump money into the economy, especially on capital project.

“The government believes that pumping money into more capital project would generate employment and boost the economy.”

President buhari delivering his address at the anti-recession retreat in Abuja today, Thursday, September 15, 2016.

President Muhammadu Buhari delivering a speech at the anti-recession retreat in Abuja today, Thursday, September 15, 2016.

The retreat was aimed at helping the government stakeholders understand how the 2017 budget will run and familiarise themselves with the process.

It is believed that the retreat will enhance the pace for “prioritizing projects and programmes of ministries to fit into the 2017-2019 MTSS, 2017-2020 Medium Term Plan and 2017 Budget” and “also improve understanding on Budget ceiling for MDAs for 2017 Budget.”

Meanwhile, Akpandem James, media adviser to the budget minister, Sen. Udoma Udo Udoma noted that the main purpose of the retreat was to discuss the 2017 Budget and steps being taken to get the economy out of recession.

Buhari with Frank Nweke jr, the facilitator of the 2017 budget retreat. Photo: NAN.

Buhari with Frank Nweke jr, the facilitator of the 2017 budget retreat. Photo: NAN.

In his words, “It will provide an opportunity to discuss the framework of the 2017 Budget, the key priorities and the deliverables of the budget.

“The retreat is expected to deliver improved understanding of the measures being taken to get the country out of recession; improve synergy among the various ministries for enhanced implementation of planning and budget,’’ Akpandem added.

The retreat which was held at the Banquet Hall of the State House, Abuja and was chaired by President Muhammadu Buhari and Vice President, Yemi Osinbajo, was facilitated by former Minister of information and DG of Nigerian Economic Summit Group, Frank Nweke (jr) and the Ministry of Budget and National Planning “to set the right parameters and fine-tune the 2017 Budget”.

 

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