Federal Government Budgets N7trn For 2017


The Vice President, Prof Yemi Osinbajo has disclosed that the figure of the 2017 Appropriation Bill, yet to be presented to the National Assembly, is about N7trillion.

He however acknowledged that the size of the budget was not big enough to make a significant difference on the nation’s economy.

Osinbajo, who is the Chairman of the Economic Management Team, spoke during a tour of some firms in Sagamu, Ogun State on Thursday. A transcript of his speech at one of the firms was issued to journalists by his spokesman, Mr. Laolu Akande.
According to Osinbajo, the private sector has a big role to play in the nation’s economy.

He said,

“Our entire budget size for 2016 is something in the order of just over N6trillion and we will probably be moving to about N7 trillion in the 2017 budget.

“But N7 trillion is certainly not the kind of money, it does sound like a fair amount of money, but certainly, it is not the kind of size that can really make a huge difference in a N90trillion economy such as we have.”

President Muhammadu Buhari on Thursday met behind closed doors with the Senate President, Bukola Saraki, inside the Presidential Villa, Abuja, over next year’s budget.

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