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2018 budget in process- FG

The early preparation is to meet up with a resolution that the Executive will submit 2018 budget proposals by October to the National Assembly.The Federal Ministry of Budget and National Planning on Tuesday in Abuja began the process of preparation for the 2018 budget proposals.
The early preparation is to meet up with a resolution that the Executive will submit 2018 budget proposals by October to the National Assembly.

The News Agency of Nigeria (NAN) gathered that an event, tagged: “Flag of the 2018 Budget Preparation Process’’ held behind a closed-doors at the Old Banquet Hall of the Aso Rock Presidential Villa, Abuja.
The event came up less than 24 hours after Acting President Yemi Osinbajo signed the 2017 Appropriation Bill into law.
NAN gathered that the objective of the event was to update the ministers and other relevant stakeholders on the processes and procedures expected of the Ministries, Departments and Agencies (MDAs) in the budget preparation.
The objective was also to ensure that that the budget proposals for 2018 align with achieving the key areas highlighted in the Economic Recovery and Growth Plan (ERGP).

The ERGP’s projected that Nigeria will make significant progress to achieve structural economic change with a more diversified and inclusive economy in five key areas by 2020.
The key areas are stable macro-economic environment, agricultural transformation, food security, sufficiency in energy and improved transportation infrastructure.
NAN also learnt that the meeting discussed step by step guidelines for delivering of each strategy in the ERGP.

For a better society

*Agreement opens up power sector for more investments, VP says

In fulfillment of its commitment to increasing power supply in the country and further tapping into the ‘gas to power’ value chain, the Federal Government today signed a number of agreements that will add more than 500 MW electric power to the National Grid.

The Federal Government yesterday shared the sum of N345.095 billion with the the States and Local Governments for the month of February.
The amount was short of N25.293 billion from the N370 billion shared in the preceding month.
A breakdown of the figure showed that federal Government received N127.200 billion, States received N64 billion, while Local Governments got N49.740 billion.

•Says N825bn splashed on travels in 3yrs

In furtherance of its commitment to re-prioritize spending and cut cost on recurrent expenditure, the Efficiency Unit of the Federal Ministry of Finance has said it is planning to introduce detailed price guidelines to ensure value for money in procurement by Ministries, Departments and Agencies (MDAs).

….Says Political Crisis Looms Over Clamp-Down On Metuh, Other PDP Leaders

The Peoples Democratic Party (PDP) says the continued incarceration of its spokesman, Chief Olisa Metuh by the EFCC since Tuesday, without charging him to court, clearly shows the dictatorial character of the President Muhammadu Buhari-led APC Federal Government, which has not hidden its disdain for rule of law and an appetite to gag the opposition.

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