Ebun Francis |
President Muhammadu Buhari has not received a copy of the 2018 budget passed by the national assembly, minister of budget and national planning, Udo Udoma said on Wednesday.
The minister who denied reports credited to him that President Buhari will not sign the budget, made the disclosure while briefing newsmen in Abuja at the end of the of federal executive council (FEC) meeting.
Udoma said that once the budget gets to the president for assent, the federal government would work on it “very quickly”, he, however, submitted that delay in transmitting the budget is having negative impact on the economy.
He said, “The president is yet to receive the budget it is, therefore, impossible to make a statement about the budget that has not been received.”
“Once we get it, we will work very quickly on it. When it is submitted, I am sure the national assembly themselves will inform Nigerians.
According to him, despite challenges, the economy was looking up with a current gross domestic product (GDP) growth rate of 1.95 percent in the first quarter of 2018.
He also stated the GDP of the economy would peg at 3.5 percent by Q4 2018 and that foreign reserves were also growing at a steady pace with balance at $47billion as at May 2018.