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Published On: Thu, Oct 26th, 2017

2018 budget tops agenda as FEC holds today

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By Lawrence Olaoye

In its determination to ensure its resolve to submit the 2018 Appropriation bill to the National Assembly this October, the Federal Executive Council (FEC) will today convene to give finishing touches to the document.
The FEC, which was supposed to hold yesterday was postponed for the
Budget Office to be able to present the perfected document the council.
Minister of Budget and National Planning, Senator Udoma Udo Udoma, has consistently maintained that the 2018 budget would be presented to the National Assembly for speedy consideration.
This, according to him, was to ensure that the nation’s fiscal calendar returns to 12 calendar months of January to December.
The 2017 budget was not signed into law until middle of this year and this, like other previous years’ budgets, have been sources of concerns to the government.
The submission of the budget proposal to the NASS by October was to enable the lawmakers pass the Appropriation bill before the end of the year.
Should this be the case, the President is expected to assent to the passed Appropriation Bill for its implementation to commence by the first day of 2018.
Already, the Medium Term Expenditure Framework (MTEF) had already been submitted to the lawmakers ahead of the budget proposal expected to be presented this month.

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