Osinabjo meets National Assembly leadership over 2017 budget

Acting President Yemi Osinbajo on Tuesday met with the leadership of the National Assembly (NASS) in continuation of consultations between the executive and legislative arms of government over the 2017 Budget.

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

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

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 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 roadshow 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 Dec. 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 percent of the 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.