Why Buhari Asked Senate For 229 Billion Naira Supplementary Budget
It is still less than a month after President Muhammadu Buhari signed the 2018 budget into law, after about a 6-month delay before passage by the National Assembly.
Now the President is already asking the lawmakers to reallocate 229 billion naira in a supplementary budget.
So, the President said in a letter to the Senate that the supplementary budget transfers are necessary partly to help the government prepare for general elections that are scheduled for February 2019 and is expected to cost 242 billion naira.
Buhari proposed the reallocation of funds for the budget of 9.1 trillion naira that he approved on June 20. He is opposed to increasing spending any further, according the letter.
Buhari said in June he would consider a supplementary budget after lawmakers submitted a spending framework that was 5.8% higher than what he proposed to them in November.
“Implementing a budget of 9.12 trillion naira will be extremely challenging and therefore, I do not consider it expedient to propose a further increase to the size,” he said in the letter.
For the election in which he will seek another term, Buhari wants this year’s budget to allocate 164 billion naira and the balance should come from next year’s spending plan.
He also asked lawmakers to amend spending cuts and new allocations amounting to 578 billion naira that they made to the budget he proposed initially.
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