–N351bn for statutory transfers, N1.4trn for debtservice, N2.6trn for recurrent expenditure, and N1.5trn as capital expenditure listed in the budget
-Buhari says living in the State House does not alienate him from his daily struggle
President Muhammadu Buhari has assented to the 2016 budget.
This was contained in a statement by one of presidential media aidesBashir Ahmaad:
The#Budget2016was signed into law at exactly 12:32pm by President Muhammadu Buhari inside his office at the Presidential Villa,Abuja.
— Bashir Ahmad (@BashirAhmaad)May 6, 2016
The ceremony of signing the main national document was attended by the Vice President, Professor Yemi Osinbajo, and the chairmen of theNational Assembly appropriation committees.
Speaking on the implementation of budget Buharisaid:“Living in the State House does not alienate me from your daily struggles. I hear your cries, I share your pains.
“I commend the sacrifice, resilience, toughness ofall Nigerians, who have continued to have hope and confidence of a great future.
“This government is like no other. We are absolutely committed to changing the structure ofthe Nigerian economy once and for all.
“I can’t promise that it will be an easy journey, butcan assure this govt you have freely elected will work with honesty & dedication
“I shall speak in more details about the overall economic and social policies of the govt in my address on May 29, God willing.”
The Nigerian leader has presented a N6.08 trillionbudget for the fiscal year 2016 on December 22, 2015.It was the first in three years that a Nigerian president had personally presented a budget to the National Assembly.
There was a short controversy when the budget went missing from the NASS, when no-one could trace the document presented by Buhari.
But that matter was rapidly fixed and the president received fresh document
.Later President Buhari refused to sign the main document because he did not know the exact content.