President Muhammadu Buhari has signed into law the 2018 budget passed
by the National Assembly, in May.
The N9.12 trillion budget was signed in one of the presidential chambers and witnessed by Vice President Yemi Osinbajo, ministers and top presidential aides.
President Buhari presented an N8.6 trillion budget to a joint session of
the National Assembly, in November last year but the lawmakers upped the
figure by N500 billion.
The President is unhappy that the National Assembly made cuts amounting to
N347 billion in the allocations to 4,700 projects submitted to them for consideration.
On the other hand he criticized the over 6000 projects introduced by the lawmakers valued at over N500 billion, describing them as not properly
conceptualized and costed and therefore difficult to execute.
Nevertheless the President said he signed the budget in the interest of