Budget 2016 Slashed From 500bn To 75bn

Buhari Presenting 2016 Budget

President Muhammadu Buhari is warming up to receive a reworked copy of the 2016 budget any time this week from the National Assembly following the belated agreement by the lawmakers to remove most of the unbudgeted items they introduced into the fiscal document for pecuniary gains.

Reliable sources close to the NASS told Vanguard that the lawmakers had realised that it was wrong for them to have usurped the functions of the Executive by introducing items not contemplated by the Presidency into the budget and illegally transferring capital votes to such items.