Buhari will receive Budget 2018 on Friday— Saraki

Senate President Bukola Saraki says the 2018 budget which the national assembly passed last week will get to President Muhammadu Buhari on Friday. Saraki said this on Thursday when he led federal lawmakers to break the day’s fast with Buhari at the presidential villa in Abuja. He attributed the delay to the harmonisation of the budget by both chambers of the national assembly. On Wednesday, Udo Udoma, minister of budget and national planning, said the delay in transmitting the budget to the president would have negative impact on the economy. “The president is yet to receive the budget it is therefore, impossible to make a statement about the budget that has not been received,” Udoma had told reporters. “Once we get it, we will work very quickly on it. When it is submitted, I am sure the national assembly themselves will inform Nigerians.” On May 16, the national assembly approved the budget, six months after it was submitted by the president. While the lawmakers raised the price of oil benchmark from $45 to $51, they maintained oil production at 2.3 million barrels per day and exchange rate at N305 to a dollar. The budget was raised from 8.6 trillion to 9.1 trillion.]]>