MARKET UPDATE
Advertisement

TheCable

We’ll get 2017 budget passed in 2016, says FG

We’ll get 2017 budget passed in 2016, says FG
April 20
20:46 2016

The federal government says it wants the 2017 budget passed into law in 2016, following the federal executive council’s approval of the timetable for the 2017 budget.

At the executive council meeting presided by President Muhammadu Buhari, Udo Udoma, minister for budget and national planning, said work was still ongoing with the 2016 budget, adding that his team also wants the 2017 budget passed this year.

“On the 2016 budget, we’re still talking. On the 2017, budget we’re making plans to ensure it is passed this year,” he said.

To ensure implementation of the 2016 budget, the monitoring and evaluation mechanism for 2016 budget was approved by the council.

Advertisement

Also at the executive council meeting, Ibe Kachikwu, minister of state for petroleum resources, explained that NNPC was doing all it could to cut fuel importation by 60 percent by 2018.

“We’re addressing the supply issue by ensuring that we flood the country with fuel cargoes,” Kachikwu was quoted by Aso Rock official Twitter account.

“Port Harcourt Refinery back working; started producing a few days ago. Warri due soon. Crude now being pumped to Kaduna refinery. Target is to reduce Nigeria’s fuel importation by 60% by 2018, through a combination of initiatives.

Advertisement

“About 1,200 fuel trucks moving nationwide daily. To keep Nigeria wet with products, we need to be moving about 1,300.”

Babatunde Fashola, minister of power, works and housing, explained the state of power in the country, stating that vandalism had reduced power generation and distribution across the nation.

The minister added that repairs are ongoing and plans underway to generate more power for the country.

Advertisement

1 Comment

  1. gabito
    gabito April 21, 13:04

    it’ll be nice cos proper planning would be done before implementation.

    Reply to this comment

Write a Comment