Home World News Nigeria News Buhari to sign budget tomorrow to avoid govt shutdown —Govt source
Nigeria News

Buhari to sign budget tomorrow to avoid govt shutdown —Govt source

Share
President Buhari signs Not Too Young To Run Bill 1
Share
Buhari to sign budget tomorrow to avoid govt shutdown —Govt source

President Muhammadu Buhari is set to sign the N9.1 trillion 2018 budget of the Federal Government tomorrow after succumbing to entreaties to avoid a shutdown of the government from that day. President Buhari The president, according to reliable sources, had frowned at N500 billion increase in the N8.6 trillion proposal he submitted to the National Assembly last November. The increase was in part channelled to the legislative, the judiciary and other agencies of the government. However, legal counsel reportedly offered by lawyers in the presidency had warned of the implications of not signing the budget immediately, which could mean using illegal instruments to draw money to run government operations. A government source privy to the development told Vanguard, weekend, that the president was convinced to, despite his reservations, sign the budget in order not to bring the machinery of the government to a standstill as it would have meant no money to run the government. That would have meant the first-ever shutdown of the Federal Government with the government not being able to pay for its services. That is because the cycle of the 2017 budget ended last Wednesday, June 13 being the date in 2017 when Vice President Yemi Osinbajo signed the last budget in the absence of the then sick president. “Any money spent would have been outside the budget, and that would have meant a constitutional infraction, and you know the president does not need to compound his problems with the National Assembly,” a source familiar with the development told Vanguard. The president’s observations of the increases, it was gathered, were mollified by assurances that the increases would be covered by the increase in the budget benchmark for crude oil as provided in the parameters as reviewed by the National Assembly. A government source disclosed that the presidency last Thursday invited the President of the Senate, Senator Bukola Saraki and Speaker Yakubu Dogara for the signing ceremony tomorrow.

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts

Related Articles
Angelique Kidjo becomes first African to receive star on Hollywood Walk of Fame
Nigeria News

A Historic Moment on the Hollywood Walk of Fame: Angelique Kidjo Shines Bright

Grammy-winning Beninese singer Angelique Kidjo is poised to make history history as...

I'm getting old, need to start having children - Burna Boy
Nigeria News

Burna Boy Mulls Over Starting a Family: “I Think I’m Getting Old”

Grammy-winning Nigerian singer, Damini Ogulu, popularly known as Burna Boy, said he’s...

Actor Peter Ijagbemi ties knot with lover, Folajogun Akinlami
Nigeria News

A New Chapter Begins: Peter Ijagbemi and Folajogun Akinlami’s Quiet Union

Nollywood star, Peter Ijagbemi, has tied the knot with Folajogun Akinlami, his...

Life abroad not rosy – Tacha opens up on Nigerians struggling in UK
Nigeria News

The Untold Reality of Life Abroad: What Tacha Shared About Nigerians in the UK

Reality TV star and influencer, Tacha Akide, has sparked conversation online after...