President Muhammadu Buhari has confessed that some changes made to the 2019 budget by the National Assembly will adversely impact his government’s programs, making it difficult for it to achieve the objectives of the Economic Recovery and Growth Plan (ERGP).“Although I will be signing this bill, it is my intention to continue to engage the National Assembly to ensure we deliver on our promises. I will therefore be engaging with the leadership of the ninth National Assembly, as soon as they emerge, to address some of our concerns with this Budget.”
The President, at the signing today, Monday, of the 2019 budget bill as passed by the National Assembly, said that the bill he was signing provided for aggregate expenditures of N8.92 trillion which he said, is an increase of N90.33 billion over his submission.
“This increase reflects changes introduced by the National Assembly. In some areas, expenses we proposed were reduced while in other areas they were increased. There were also certain areas where new additions were introduced into the budget. More details of the approved budget will be provided by the Honourable Minister of Budget and National Planning.”
He recalled that in December 2018, he presented our 2019 budget proposal with the theme “Budget of Continuity,” adding that the goal of his government was to use the budget to move the economy further on the path of inclusive, diversified and sustainable growth.
“Back then, I proposed a total expenditure of N8.83 trillion to the National Assembly for appropriation targeting strategic and impactful projects and initiatives.”
President Buhari said that he would look at how to improve the budget process so that, amongst other things, “we can speed up budget consideration processes and return the country to the January to December fiscal year timetable.
“I wish to acknowledge the efforts of the Minister of Budget and National Planning, Minister of Finance, Budget Office of the Federation, and everyone who collaborated and worked painstakingly to produce the 2019 Appropriation Bill I am signing today.”
