Presidency revises 2016 budget

Following the many controversies over the 2016 Budget, there are indications that the 2016 budget was actually withdrawn for a major amendment as two different versions of the budget are showing different figures and adjustments in expenditure heads.

A version indicating to be an amendment shows a major cut of about N8.8 billion in the Presidency’s original figure with purchase of vehicles receiving the deepest cuts.

Also the new version has provision of N17 billion for capital expenditure allocated to Niger Bridge at Asaba-Onitsha, Delta and Anambra states, though there was no such provision in the first version submitted to the National Assembly.

The expense heads that received big cuts include Fixed Asset Purchase reduced by N3.374 billion to N1.196 billion from N4.57 billion while purchase of motor vehicles was reduced by N3.29 billion to N599 million from N3.889 billion.

Others include State House headquarters, recurrent costs, overhead, miscellaneous, honorarium/sitting allowance each of which were reduced by N100 million.

Expenditures for construction and provision of general fixed asset, which appeared to have had double entry at N764.67 million each, were scrapped in the second budget.

The President of the Senate, Bukola Saraki, had last Thursday accused the Presidency of substituting the original copy of the budget presented by President Muhammadu Buhari to the National Assembly on December 22, 2015 with a new version.

Saraki’s claim was the climax of days of suspense following claims and counter-claims that the document was missing.


Source: Vanguard