President Goodluck Jonathan is presenting the 2013 budget to a joint session of the National Assembly.
The event, which was supposed to have taken place last week, was shifted to Wednesday by the Senate President, David Mark, to enable law makers in the lower chamber resume from a short recess.
Dressed in dark blue Ijaw attire, with a black hat, President Jonathan flanked by Senate President, David Mark and Speaker, Aminu Waziri Tambuwal, stood for the national anthem at 10 am exactly.
Thereafter, a short prayer was held before the session commenced inside the hallowed chamber of the House of Representatives.
The budget presentation at this time of the year,THISDAY learnt, is to expediate action on deliberations, review and passing of the document.
This is expected to forestall the type of friction that ensued between the executive and the legislature on the implementation of the 2012 budget.
The president pledged to mitigate the possible adverse effect of the global economic meltdown.
He said the federal government has released N711.6 billion to Ministries, Departments and Agencies in its efforts to ensure the partial implementation of the 2012 budget.
He said the government will intensify development in the domestic sector, continue to create new jobs and balance economic growth and fiscal consolidation to achieve viable development