Nigeria’s President, Muhammadu Buhari, will present the 2017 appropriation bill to the National Assembly next week, a government official said on Wednesday.
Today reports that the Minister of Budget and National Planning, Senator Udo Udoma, announced the plan after the Federal Executive Council meeting.
He said the exact date and time for the budget presentation would be determined by the National Assembly.
According to him, the 2017 fiscal document, of which he gave no details, has been well prepared to avoid the pitfalls that characterised the 2016 budget.
“The document that we are presenting to the National assembly is a carefully prepared on,” Senator Udoma said.
He told reporters that over 800 billion Naira had been released so far in the 2016 budget as capital projects with all recurrent expended.
The Federal Executive Council meeting presided over by President Buhari lasted over five hours.
Also at the press conference was the Minister of Power, Works and Housing, Mr Babatunde Fashola.
While briefing reporters, he announced the council’s approval for the construction of some hydro dams in parts of some states to boost electricity supply which had dropped significantly in recent months.
He said that the projects would further the quest for incremental energy wherever there is legitimate opportunity as well as the quest for renewable energy through clean hydro energy.