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Published On: Tue, Nov 21st, 2017

Reps to commence work on 2018 budget Wednesday

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The House of Representatives has said it will  commence work on the 2018 budget estimates tomorrow.

 

President Muhammadu Buhari had, on November 7, 2018 laid before a joint session of the National Assembly, the budget expenditure of  N8.612 trillion for the fiscal year.

 

Announcing the schedules of activities of the House on the budget today, Deputy Speaker, Lasun Yussuff who presided over plenary, explained that today (Wednesday) and Thursday would be dedicated to the consideration, and subsequent approval of the 2018-2020 Medium Term Expenditure Framework (MTEF), and Fiscal Strategy Paper (FSP), earlier transmitted by the president.

 

The Fiscal Responsibility Act makes approval of the MTEF/FSP a prerequisite for the consideration and passage of the budget.

 

According to him, the House will between 28th and 30th of November, debate the general principles of the budget bill, while the leadership of the House will also on the 30th of November meet with chairmen and deputy heads of standing committees of the House, apparently to address all grey issues on the budget.

 

The Deputy Speaker also announced that a public hearing would be held to gather inputs of critical stakeholders and the public on December 4, 2017.

 

It is highly expected that the budget bill is passed by both houses of the National Assembly, before the parliament proceeds on the Yuletide break.

 

 

 

 

 

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