JUST IN: NASS Blows Hot, Gives President Buhari One Very Strict Condition Or Forget About The 2018 Budget, Orders The Executive To Wake Up!!!

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Members of the House of Representatives, are demanding N100 billion, as a condition for treating the 2018 budget, expected to be presented before the National Assembly, on Tuesday, November 7, by President Muhammadu Buhari.

It was learnt that the N100 billion is for the zonal intervention projects (Constituency Projects) of members of the National Assembly.

A source who spoke to Punch, said: “Nothing has been released for the Constituency Projects of N100 billion for members. These people are politicians, and elections are not far away.

“They have to present something to their people as dividends of democracy, to guarantee some votes at the next polls. If the zonal projects are not funded, there will be setbacks for the 2018 budget.”

Another top official of the Legislature, also informed Saturday PUNCH, that it was unlikely that members would approve the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper, which must be done before touching the 2018 budget.

The official explained: “You know that the MTEF is a requirement of the Fiscal Responsibility Act, 2007.

“Without the approval of the MTEF, there will be no new budget. So, let the Executive wake up.”

The Federal Government plans to spend N8.60 trillion in 2018. While work is progressing on next year’s budget, the 2017 budget of N7.441 trillion, will still be running until May 2018.

For instance, out of the N2.2 trillion budgeted for capital projects in the 2017 budget, only N336 billion has been released till date.

Findings further revealed that out of the N336 billion, the Ministry of Power/Works/Housing got the highest allocation of N90 billion.

The Ministry of Defence got N71 billion; Ministry of Transportation, N30 billion; Agriculture, N30 billion; and Water Resources, N12 billion.

All other sectors combined, received a total sum of N103 billion, bringing the grand total to N336 billion.

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