Thursday, July 18, 2019

Enang: Greater part of 2018 budget will be funded through loans

Enang: Greater part of 2018 budget will be funded through loans
June 28
21:01 2018

Ita Enang, senior special assistant to the president on national assembly matters (senate), says the federal government is working on ways to raise funds for the 2018 budget.

Speaking with NAN on Thursday, Enang said all ministries, departments and agencies (MDAs) have been directed by President Muhammadu Buhari to activate the country’s economy following the signing of the 2018 budget into law.

“Mr President has directed that very immediate and urgent steps be taken so that the economy be activated, employment be created so that the market will be active and people can go around to buy what they need to buy.

“Therefore, those are the words of Mr President. We are not dwelling on any other matter rather than implementation. What you called the dispute on the budget, I want to say that Mr President made observations from the budget, he did not raise objection.

“Mr President assented to the budget. The time we are now, we are working on the implementation of the budget. We are working on steps to raise fund for the budget. You know that the greater part of the budget is going to be funded by loan, because it is a deficit budget. And so we are working on modalities to make appropriate request before the legislature.

“Some of the ministries have already advertised and commenced the procurement process pending which of the projects will finally come out of the budget and how much they will come out even the budget was finally approved.”

He said the presidency is doing everything to resolve the rift between it and the legislature amidst the 12-point condition handed down to the Buhari administration by the federal lawmakers.

Enang said what is happening between the two arms of government is “democratic engagement”.

“Again, Mr President is also directing that matters be collated so that proposal for either supplementary budget or budget amendment or virement be laid before the legislature for action,” he said.


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