Udoma Makes Public Presentation Of 2017 Budget
Nigeria’s budget office on Monday made a public
presentation of the 2017 budget in Abuja.
of Budget and National Planning, Udoma Udo-Udoma, presented the budget and gave a breakdown of the figures and how they would have positive impact on the economy and the citizens.
The 2017 budget presentation is coming a week after Acting President Yemi Osinbajo signed the document into law.
It is a budget of 7.44 trillion Naira, with 2 trillion Naira set aside for capital expenditure while recurrent expenditure is still high.
In the 2017 budget, 500 billion Naira would be expended on roads, power and housing projects.
At least 5.08 trillion is the expected revenue, with a large chunk of it coming from crude oil sales.
There is a projected deficit of 2.36 trillion, to be financed largely through borrowing.
The minister presented the 2017 budget to a gathering of foreign diplomats, top business holders in Nigeria, economists, ministers and top officials of the Ministry as well as the Finance Ministry.
Udoma gave a breakdown of the 2017 budget and gave a highlight on key areas expected to impact on Nigerians economically, as the nation tries to wiggle out of recession that the economy officially slipped into in the second quarter of 2017.
The public presentation took place at the conference hall of the Ministry of Foreign Affairs in Abuja.