Minister of Budget and National Planning, Senator Udoma Udo Udoma, has revealed that President Muhammadu Buhari will not assent to the 2018 budget recently raised to N9.1 trillion by the National Assembly, with additional N501 billion.
Special Adviser on Media to the Minister, Akpandem James, disclosed that the N501 billion addition by the legislature might not be feasible.
Udoma said that the National Assembly would have to tell Nigerians if they have discovered another revenue stream unknown to the Federal Government to cover the addition.
“When we see the details, we will be in a better position to know how they came about it.
“We will see if they have discovered another revenue stream, which we were not aware of, or just relying on increased crude oil price.”
“Buhari will not sign that outrageous amount,” he said.
Post-Nigeria could recall that the Senate has increased the appropriation Bill from the N8.612 trillion proposed by President Buhari to N9.12 trillion.
The crude oil benchmark price of the budget was also increased from $45 to $50.5.
According to the document laid at the House last Tuesday, N530,421,368,624 was proposed for statutory transfer; N2,869,600,351,825 for development fund for capital expenditure; N3,516,477,902,077 for recurrent (non debt) expenditure while N2,203,835,365,699 is for debt service; and N199 billion for maturing loan.