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Just In: Federal Government Approves 2017 Budget

The Federal Government has approved the 2017 budget proposal for onward submission to National Assembly for final approval.

The budget was approved by the Federal Executive Council (FEC) at its meeting on Wednesday.

The Minister of Budget and National Planning, Mr. Udoma Udo Udoma, who spoke after the FEC meeting said the approved document would soon be presented to the National Assembly.

The minister added that the date for the presentation would be given by the National Assembly.

Speaking on Medium Term Expenditure Framework (MTEF), the minister stated that the document has been worked upon and the observations of the Sentae has been rectified.

“Naturally, the estimates, every time you improve on your estimate based on the latest estimates. For instance, one of the issues they raised was about the exchange rate.

“That we used 290 as the exchange rate, and that was the exchange rate of the time.

“So, you only use the exchange rate that is valid at that time. Naturally by now you will change that.

“But that MTEF was extremely well prepared consistent with the best possible methods of ‎preparation by people who are very experienced in preparing MTEFs,” he said.buhari-budget

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  • comrade segun

    That’s good

  • chika bibian

    Ok that’s good

  • chika bibian

    Ok that good

  • Mohammad Isah

    Okay that’s nice

  • Kenny D Osonwa

    Seen fa.

  • So so budget…no result..next thing person go hear.. padding

  • Mezzy Gilbert

    Me no c wetin dem use d last one do

    • Mohammad Isah

      The thing being lost na

  • kayode akinsanya

    Good one, It’s well

  • emekachilaka

    After how many years

  • Cornel Nwankwo

    Hope the budget will be implemented properly

  • Olovo Obinna

    I hope when it gets to national assembly we no go hear another stories that touch this time oh

  • WillieBravo

    Let is all hope this one wasn’t padded like the 2016 budget.

    • Olovo Obinna

      2016 budget which impact so far

      • WillieBravo

        Hmmmmm!

    • Cornel Nwankwo

      Hope so too

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