President Muhammadu Buhari is set to submit the 2019 national budget once the national assembly is re-opened in September.
Minister of State for Budget and National Planning, Zainab Ahmed, explained that this was to restore the January to December budget cycle.
“Our aspirations is that we want to meet the requirements of the law to submit it by September but as you know the National assembly is itself away on recess and they resume by September”.
According to Daily Trust, The minister said the federal government had consulted widely with members of the National Assembly in that regard.
The presentation of the last two budgets could not achieve that threshold. The president presented the 2017 fiscal document to the lawmakers in the second week of December 2016 while that of 2018 was presented in the first week of November 2017.
Speaking on the current effort, the minister said: “Our aspirations is that we want to meet the requirements of the law to submit it by September but as you know the National assembly is itself away on recess and they resume by September.”
She said the law encourages the executive to submit the budget by September and the idea is that by December, the budget is passed.
The Minister also said the N1.56 trillion spent by the federal government on capital projects was the highest amount ever spent on capital projects in the history of Nigeria.