ABUJA—The ambitious bid by the Presidency to present its budget to the National Assembly next month may not materialise after all, due to several factors, chief among which is the postponement of the resumption from vacation by lawmakers.

The lawmakers, who went on their annual vacation in July, were to resume today, but inexplicably extended their resumption date by a week, citing lack of funds.

But Vanguard learned exclusively that the lawmakers had not acted on the request by the Presidency to approve the virement for capital projects in the 2017 budget worth hundreds of billions of naira, though the Presidency had sent in the request long before they proceeded on the vacation in July.

Yet to approve virement for 2017 capital projects

A top Presidency source told Vanguard, yesterday, that the lawmakers ignored the urgency, which was highlighted in the request for the virement for capital projects and proceeded on leave, leaving the Federal Government with no option than to wait until they resume for the critical approval.

MTEF for 2018 estimates

But while the delay by the lawmakers has effectively stalled the execution of many capital projects and their delayed resumption has also held down the consideration and approval of the Medium Term Expenditure Framework, MTEF, for the consideration of the 2018 budget.

SOURCE :vanguardngr.com


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