• News
  • Sport
  • TV
  • Radio
  • Education
  • TV Licences
  • Contact Us
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION
No Result
View All Result
1
Home Africa

Nigerian acting president to sign budget on Monday

12 June 2017, 5:25 PM  |
Reuters Reuters |  @SABCNews
President Buhari issued a statement saying it was in the interest of the country for Osinbajo to sign the budget into law. Picture:REUTERS

President Buhari issued a statement saying it was in the interest of the country for Osinbajo to sign the budget into law. Picture:REUTERS

President Buhari issued a statement saying it was in the interest of the country for Osinbajo to sign the budget into law. Picture:REUTERS

Nigeria’s acting president will sign the 2017 budget into law later on Monday, one of his aides told Reuters, as Abuja plans record spending to pull Africa’s biggest economy out of recession.

The OPEC member has been in recession since last year, largely due to low oil prices and militant attacks on the country’s Niger Delta energy facilities. Oil sales usually bring in two-thirds of the government’s revenue.

Vice President Yemi Osinbajo is standing in for President Muhammadu Buhari, who has been on medical leave in Britain since May 7, his second prolonged absence this year. Buhari’s medical condition is unclear.

“The acting president will be signing the budget today,” the presidency aide said.

President Buhari issued a statement saying it was in the interest of the country for Osinbajo to sign the budget into law.

Lawmakers last month passed the record 7.44 trillion naira ($23.6 billion) budget plan, which is bigger than the 7.298 trillion naira draft spending plan submitted by Buhari in December.

Two other presidency sources who did not want to be named also said the budget would be signed on Monday.

Sources said Osinbajo was at an event in the southeastern state of Anambra on Monday and would fly back to Abuja for the budget signing ceremony later in the day.

Last year’s budget, passed in May 2016, was delayed for months due to disagreements between lawmakers and the presidency over spending plans that cut the supply of government money and deepened the economic crisis.

Buhari said in his statement, signed by his spokesman Garba Shehu, that the 2018 budget proposal will be submitted by October and parliament will conclude the process by December so the country can return to a normal budget cycle from next year.

– By REUTERS

Share article
Tags: EconomyMuhammadu BuhariYemi OsinbajoAbujaBudgetRecessionNigeria
Previous Post

Namibians to remember struggle icon Toivo ya Toivo

Next Post

Egypt bans scores of news websites in growing censorship crackdown

Related Posts

Lesotho Highlands Water Project.

Commencement of Phase Two of Lesotho Highlands Water Project welcomed

29 September 2023, 6:05 PM
People wait to vote at a polling station during Eswatini's parliamentary elections in Mbabane, Eswatini, September 29, 2023.

Eswatini holds parliamentary elections under monarch’s control

29 September 2023, 10:31 AM
Military personnel

Niger junta says a dozen soldiers killed in militant attack

29 September 2023, 6:39 AM
President Cyril Ramaphosa and Lesotho Prime Minister Sam Matekane hold bi-national talks in Pretoria, South Africa, September 28, 2023.

South Africa-Lesotho immigration model under review

29 September 2023, 6:01 AM
DRC President, Felix Tshisekedi.

DRC govt urged to ensure democratic spaces are protected in run-up to December election

28 September 2023, 7:11 PM
A man holds his national flag as people gather to show their support to the Junta leader Ibrahim Traore and demand the departure of the French ambassador at the Place de la Nation in Ouagadougou, Burkina Faso January 20, 2023.

Burkina Faso junta says it thwarted a coup attempt

28 September 2023, 11:33 AM
Next Post
The spike in censorship has come as a surprise, even to journalists long-accustomed to reporting within strict red lines in Egypt. Picture:REUTERS

Egypt bans scores of news websites in growing censorship crackdown

Most Viewed

  • 24hrs
  • Week
  • Month
  • Six beaches in Durban flagged with high levels of E.coli
  • Visitors planning to visit the Overberg region urged to postpone their trips
  • Western Cape on high alert following severe storm warning
  • Steam trains revived in the Western Cape amid Heritage Day celebrations
  • A level two weather warning issued for southern KZN
  • High waves and rough water conditions force beach closures in the Western Cape
  • Prince Mangosuthu Buthelezi to rest in the town he built and nurtured
  • NSPCA files criminal case against Julius Malema for alleged animal cruelty
  • Snow, heavy rainfall expected in parts of KZN: SAWS
  • Cold-front sweeps across SA bringing snow and chilly temperatures
  • Zoleka Mandela to be buried at the Fourways Memorial Park
  • Police investigate fatal shooting on R40 in Hazyview
  • Dudu Myeni appears in Richards Bay court on fraud, corruption charges
  • Officials on the run as corruption allegations rock Sekhukhune District Municipality
  • Night vigils for slain Free State Acting Judge Thamae held nationwide

LATEST

SABC building in Auckland Park.
  • Business

SABC confident amidst financial loss


Mandla Mandela.
  • South Africa

Mandla Mandela urges respect for Zoleka’s peaceful rest


[File Image] Aziz Pahad addressing an event.
  • Politics

Pahad hailed as a fine diplomat


[FILE IMAGE] Former SAA Board Chairperson Dudu Myeni.
  • Business

Dudu Myeni gets R10 000 bail


Penguins at Antarctica
  • South Africa

SA learners invited to join Matrics in Antarctica initiative


[FILE IMAGE] Doctor's room.
  • South Africa

Sekhing community gets healthcare centre


Weather

  • About the SABC
  • Contact Us
  • Jobs
  • Advertise
  • Disclaimer
  • Site Map

SABC © 2023

No Result
View All Result
  • SOUTH AFRICA
  • POLITICS
  • BUSINESS
  • SPORT
  • AFRICA
  • WORLD
  • FEATURES
  • OPINION

© 2023

Previous Namibians to remember struggle icon Toivo ya Toivo
Next Egypt bans scores of news websites in growing censorship crackdown