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Buhari Signs 2016 Budget Into Law

President Muhammadu Buhari has signed the 2016 Appropriation Bill into law. The President appended his signature on the Bill at about 12.30 pm todayAs earlier reported, the reviewed copy of the Budget was dropped in his office last night by his Liaison officers to both the Senate and the House of Representatives, Senator Ita Enang and Honourable Suleiman Kawu.

The budet has been generating controversies since the President presented it to a joint sitting of the National Assembly last year December.

Buhari had rejected the alterations made in the Budget by the legislator with complaints against reported paddings by the lawmakers.

There are indications that the Appropriation Committees of the Senate and the House of Representatives eventually back down by removing the figures they allegedly cooked into the Budget in line with the President’s expectations.

Already the Federal Government had identified 45 priority areas in 2016 Budget to be accorded top priority.

The Budget, as proposed has offered a lee way for the agenda of government on diversification to be anchored on Agriculture, Solid Minerals development, Oil and Gas, development of infrastructures, building of new rail lines as well as promotion of exports.

The government hopes to fund the budget with earnings from expanded tax system, Customs, loan, oil and gas and others.



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