The Federal Government plans to spend an estimated N6.812tn as its budget for 2017. The figure is about 13.3 per cent or N806bn above the N6.06tn budgeted for 2016.
These details were contained in the 2017-2019 Medium-Term Expenditure Framework and Fiscal Strategy Paper, which President Muhammadu Buhari forwarded to the National Assembly on Tuesday. The President wrote to the Speaker of the House of Representatives, Mr. Yakubu Dogara, attaching the MTEF and the FSP documents.
He explained that he was complying with the provisions of the Fiscal Responsibility Act 2007, adding that his action meant that the details of the 2017 budget would soon be laid before the legislature. Part of his letter read, “Pursuant to the provisions of the Fiscal Responsibility Act 2007, the preparation towards the submission of the 2017 budget to the National Assembly is progressing well. Read more