There are indications that President Bola Tinubu is yet to receive the N54.99 trillion budget, recently passed by the National Assembly.
BusinessDay sources at the Presidency revealed that the budget, which was passed about eight days ago by the Senate is yet to be transmitted to the President for his assent
Already, the late submission and passage of the budget means that Nigeria has moved from the January to December budget cycle initiated by former President Muhammadu Buhari, in 2019.
Read also: Senate amends, passes N54.4tn 2025 budget
This position was confirmed on Thursday, by Atiku Bagudu, Minister of Budget and Economic Planning, while speaking with BusinessDay at the Presidential Villa, Abuja
He confirmed that “ the President is yet to get the budget.
“I can assure you that the budget will be signed as soon as the National Assembly completes it work and transmits the budget to the President.
“You know that the Upper and Lower Legislative Chambers of the National Assembly must first harmonize their positions before transmitting the budget to the President.
“As at this moment, the President is yet to receive the budget”
The budget contains N3.65 trillion, statutory transfers, a recurrent expenditure of N13.64 trillion, as well as Capital Expenditure of N23.96 trillion”, he said.
Under the 2025 budget, debt servicing is expected to gulp N14.32 trillion, as well as N13.08 trillion fiscal deficit
The budget also has a Deficit-to-GDP Ratio of 1.52%.
Bagudu said he was at the Presidential Villa to attend the 148th meeting of the National Economic Council NEC, where the Council launched the Nutrition 774 initiative. to drive the nutrition policy of the Federal Government.
Read also: Nigeria’s budget per person far below $2.15 poverty mark report
He disclosed that the nutrition policy was initiated to support nutrition at all levels of Government, as well as reshape cultural practices that hampers good nutrition, explore opportunities and also identify challenges in nutrition practices
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