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2018 Budget FG to present N7.9 trillion bill to NASS in October

This was disclosed by the Minister of Budget and National Planning, Udoma Udo Udoma.

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President Muhammadu Buhari (left), Minister of Budget and National Planning, Udoma Udo Udoma (middle), and Yemi Osinbajo (right) play

President Muhammadu Buhari (left), Minister of Budget and National Planning, Udoma Udo Udoma (middle), and Yemi Osinbajo (right)

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The Minister of Budget and National Planning, Udoma Udo Udoma has revealed that the Federal Government will send the 2018 appropriation bill of N7.9 trillion to the National Assembly in October.

According to The Punch, the minister disclosed this at a public dialogue with top government officials, members of Civil Societies Organisation, and the Organised Private Sector among others on the 2018-2020 Medium Term Expenditure Framework and Fiscal Strategy Paper.

He said that the early submission will allow lawmakers to have enough time to vet it and pass it to to the executive.

Udoma said, "We are having extensive consultations and all the inputs from the various consultations will be taken into consideration in preparing the MTEF and Fiscal Strategy Paper.

"The MTEF outlines the Federal Government's fiscal policies and our macroeconomic projections for the next three years from 2018 to 2020, and it provides the broad framework for the 2018 budget.

"And as you know, we are committed to delivering the 2018 budget to the National Assembly by the beginning of October, and this is part of that process."

The 2017 appropriation bill was not passed into law until June this year, when Acting President, Yemi Osinbajo signed the N7.44 trillion Budget of Economic Recovery and Growth.

Udoma said submitting the budget early will ensure that the country returns to a predictable budget year which would run from January to December.

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