Osinbajo meets National Assembly leadership on 2017 budget

In continuation of consultations between the Presidency and the National Assembly on the 2017 budget, Acting President Yemi Osinbajo on Tuesday met with leadership of the National Assembly, NASS.

The meeting, which was held behind closed doors in the Presidential Villa, Abuja, had the President of the Senate, Bukola Saraki, and Speaker of the House of Representatives, Yakubu Dogara, and some cabinet ministers in attendance.

Speaking to State House correspondents after the meeting, the Senate President said they discussed issues relating to the nation’s economy including the 2017 budget proposal.

Mr. Saraki, who described the meeting as fruitful, revealed that they were updated on the proposed government’s economic recovery plans, the road show for the sales of bonds and on the 2017 budget.

According to him, the National Assembly has so far not encountered any problems with the 2017 budget.

“We are meeting on the economy and the budget: myself, the vice-president and the speaker, minister of budget and minister of finance.

“We are aware that the economic team will soon be going on a road show and just to brief us and let us know the issues and just carry us along.

“We have just started the defence so there are no issues, these are just consultations,’’ he said.

President Muhammadu Buhari on December 14, 2016, presented a budget of N7.30 trillion for 2017 before a joint session of the National Assembly.

The president explained that N2.24 trillion, representing 30.7 per cent of the 2017 budget, would be committed to capital expenditure aimed at pulling the economy out of recession as quickly as possible.

The capital expenditure was increased from N1.8 trillion in 2016 to N2.24 trillion in 2017 while N2.98 trillion was announced as recurrent expenditure for the 2017 fiscal year.

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