President MUHAMMADU BUHARI has presented the 2016 Budget before a joint session of the National Assembly, seeking authorization for six point zero-eight trillion naira for the incoming fiscal year.In a ceremony that lasted about twenty-five minutes; President BUHARI said the 2016 Budget provides one point eight trillion naira for capital expenditure, which represents about thirty percent of the total sum.The President said the budget places priority on infrastructure development in key areas, covering works, power, housing, transport, defence and interior.He said the emphasis on capital expenditure and infrastructure development signals the march by Nigerians to sustainable development.The 2016 Budget touched on several issues bothering on national priorities, such as education, social welfare intervention, the economy, private sector-led job creation, defence and internal security, as well as improved efficiency in the civil service.President BUHARI urged all stakeholders to remain steadfast, with the assurance of his commitment t drive inclusive growth for the economy and ensure efficient management of resources.
President BUHARI announced that the pump price of petrol will remain at 87 naira per litre for now, and apologized to Nigerians for the current hardship they are going through due to fuel scarcity.In a vote of thanks on behalf of the National Assembly, the Speaker of the House of Representatives, YAKUBU DOGARA, congratulated President BUHARI for making the Budget presentation in person.DOGORA also commended the executive for what he described as a well-crafted budget, but said beyond the perfection of the document, the Executive should be prepared to faithfully implement the content.
