President Buhari has today signed the 2016 Appropriation Bill into law following the resolution of areas of disagreement between the Legislature and the Executive. The President promised to commence implementation immediately and to ensure that subsequent budgets are presented early enough to ensure passage before the beginning of the fiscal year.
The Minister for Budget and Planning however stated that full implementation of the Budget is not likely in view of the long delay in passing it into law.
My view is that efforts should be made to fully implement the capital expenditure of N1.8 trillion relating to productive projects such as electricity, roads etc. This is critical to reflate the economy and generate employment.
Watch this space for an indepth analysis of the approved budget in the coming days.
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