Friday, 6 May 2016

5 Months After Buhari Signs Budget 2016 Into Law.

President Muhamadu Buhari has finally assented to the 2016 Budget. The budget which has been a subject of argument and counter argument for the past 5 months between the Executive and the Legislative due to padding  and introducing strange and new items was signed by the president today 6th May, 2016 at around 12.30pm

Recall that the budget which was submitted to the joint session of the National assembly on 22nd December 2015 and was immediately given speedy deliberations shortly after the National assembly members resumed from yuletide break. Claims and counter claims start to fly around over padding of the budget by various Ministries and departments with items repeatedly coming up in the line items.
The came after the national assembly had unanimously approved the budget estimates of 6.06 trillion Naira from the initial 6.08 trillion Naira and transmitted to the presidency with the highlight, but failed to attached the details.
In a swift reaction to the submission of the budget to the presidency for assent, the president declined to give his assent, insisting on seeing the budget details passed by the legislative. But the details made available to the public later proved to be incredibly padded, prompting the executive arm to return the budget for a rework.
The unfortunate blame trade in who injected what into the budget and claims of budget padding had taken almost 5 months, causing untold hardship on the people as the economy was rendered aground with no budget in place.
Apparently satisfied with the corrections made on the document and the sufferings Nigerians have had to bear due to the budget fracas, the president on Friday put ink on paper, signing the budget into law. Present at the budget signing at the presdiential Villa, Aso Rock,are the vice president Prof. Yemi Osinbajo, Minister of finance Mrs Kemi Adeosun, Senator Udo Udoma Senate Presdient Bukola Saraki and speaker of the house Hon Dogara.

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