3 March 2016

Nigeria: National Assembly to Pass 2016 Budget March 17

The National Assembly yesterday fixed March 17 for the passage of the 2016 federal government budget.

Our correspondents report that both chambers of the National Assembly had earlier fixed the passage for February 25 but it was postponed following errors and padding of the fiscal document.

The new date was made known by the chairman of the Senate Committee on Appropriations, Senator Danjuma Goje and his House of Representatives counterpart; Rep Abdulmumin Jibrin yesterday at a joint press conference on the update of the budget.

They said the standing committees at both chambers have finished submitting the report of their budget defence hearing with the ministries, departments and agencies.

According to them, the report of the budget would be laid on March 16 and that it would be passed the following day.

The lawmakers said they would engage the ministers of finance, budget and planning, CBN Governor and the Accountant General of the Federation to fine-tune grey areas on the budget.

"We want to have a budget that would meet the yearnings of Nigerians and would be implementable. The basic thing is to produce a budget that would enhance the living standard of Nigerians," they said.

Our correspondents report that the extension of the implementation of the capital component of the 2015 budget elapse by March 31.

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