Source: Vanguard
Buhari presented a proposed N8.6trn for the 2018 financial year.
The President assured that the 2018 budget would be a consolidation of the earlier ones, noting that 2018 is expected to be a year of better outcomes, while describing the document as “Budget of
Saraki told Buhari in his opening remarks that it gives them “great delight to see you (Buhari) in person, after the Christian and Muslim prayers had been offered.
He reminded the president of the need for the executive and the legislature to work together in order to steady the ship of the country’s economic recovery, adding: “We must ensure that our borrowing is targeted at productive projects, implementation of the 2018 budget must anchor on the Made in Nigeria project, the current rate of rural to urban migration is alarming and unsustainable.”
Saraki said that it was pleasing to note that the budget is been presented early, saying, “this is a welcome development.”
Thanking all Nigerians for their support and prayers while on medical vacation, Buhari proceeded to lay the 2018 budget which he said, will consolidate on the achievements of previous budget.
The president reiterated that only tailored Nigerian solutions can fix Nigeria’s unique problems, noting that, “Crop production has been one of the main contributors to non-oil growth which rose to 0.45 per cent.”
Buhari said his administration through its logical and user friendly reforms has been able to move the country on the ranking of countries in ease of doing business from 169 in 2016 and recently to 146, and lauded the efforts so far made in the area of security.
“We all want a country that is safe, stable, and secure, Buhari on threats in Niger Delta”, adding that “a GDP growth of 9 per cent is expected in the 2018 budget.”
Buhari said at the close of October this year, Nigeria’s external reserves increased to $34 billion which he said was made possible by “higher crude oil price supported our economic recovery in 2017.”
The President said despite the downturn in oil prices, his administration was able “to invest an unprecedented over N1.2 trillion in capital budgets through the 2016 budget,” adding that his government had asked the SWF to invest locally.”
TSA, BVN Save Us Over N24bn Monthly, Says Buhari
Meanwhile, President Buhari said the treasury single account (TSA) and enforcement of biometric verification number (BVN) saved Nigeria an estimated N24.7 billion monthly.
Buhari was speaking at the National Information Technology Development Agency (NITDA) e-Nigeria Conference which held in Abuja on Tuesday.
According to Buhafri, a renewed focus on information and communications technology (ICT) has had positive effects on the nation’s economy, citing the TSA and BVN exercise as examples.
Drawing attention to the TSA, Buhari said consolidating 20,000 accounts in a single portal has saved the nation N4.7 billion monthly.
He said the BVN exercise had eliminated ghost workers and curbed waste, resulting in an additional N20 billion monthly savings.
Noting that only a few at the conference wore the 2018 armed forces Remembrance Day emblem at its launch, the president called on ministries, departments and agencies to wear the emblem proudly.
He said this would encourage members of the armed forces who fought for the unity of the nation, as well as their families.
The emblem launch, according to the president was hinged on a tradition of recognising and appreciating the sacrifices of war veterans.