Minister of State, Budget and National Planning, Mrs. Zainab Ahmed, on Wednesday hinted that the 2017 budget will be sent to the National Assembly for deliberation next month.
Mrs Ahmed made the disclosure while addressing State House Correspondents after the Federal Executive Council, FEC, meeting which was presided over by President Muhammadu Buhari at the Presidential Villa.
She said; “The 2017 budget preparation is at an advanced stage. The Economic Management Team has reviewed it extensively. The next step is that it is going to be brought into the Federal Executive Council for approval, thereafter, it will be sent to the National Assembly.
“Concerning the borrowing plan that Mr. President has sent to the National Assembly for 2016, indeed included in the borrowing plan is the amount that is required for both local and foreign borrowing to fund the 2016 budget deficit.
“The budget implementation itself is on course; the 2016 budget is fully performing to date in terms of personnel, that is to say we are not owing any salaries at the federal level. Operational expenditure has been disbursed for eight months and the ninth month is just being processed.
“Capital expenditure has been disbursed to the tune of nearly 50 per cent. About N720 billion has been released for the MDAs as at the end of September.”