President Muhammadu Buhari has today signed the N9.12 trillion Appropriation Bill even as he indicated his intention to forward a supplementary budget to the National assembly soon.
It would be recalled that the National Assembly had raised the initial N8.6 trillion estimates proposed by the Executive in the bill to N9.12 trillion when it finally passed.
Concerned about the likely negative impact the structural changes effected by the National Assembly to some of the provisions for critical projects may have on the budget’s implementation, the President disclosed that he would send a supplementary budget to the Legislature soon.
The President rued the major reductions amounting to N347 billion in the allocations to 4,700 projects submitted to lawmakers for consideration which were replaced by 6,403 projects, with the cost totalling N578 billion.
He posted on his verified Twitter handle, @MBuhari,: “I am however concerned about some of the changes @nassnigeria has made to the budget proposals I presented.
“The logic behind the Constitutional direction that budgets should be proposed by the Executive is that, it is the Executive that knows & defines its policies & projects.
“Unfortunately, that has not been given much regard in what has been sent to me. The National Assembly made cuts amounting to N347 billion in the allocations to 4,700 projects submitted to them for consideration and introduced 6,403 projects of their own amounting to N578 billion.
“As it is, some of these projects relate to matters that are the responsibility of the states and local governments, and for which the Federal Government should therefore not be unduly burdened”, Buhari noted.