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Budget: Lawmakers cuts padding from N500bn to N75bn

03 May 2016, 16:23

Abuja - Indications have emerged that members of the National Assembly have decided to slash the N500 billion which was transferred from key national projects to ‘constituency projects’ to a more reasonable and tolerable N75 billion in the 2016 budget.

Reliable sources close to the NASS revealed that the lawmakers had realised that it was wrong for them to have usurped the functions of the executive by introducing items not contemplated by the Presidency into the budget and illegally transferring capital votes to such items.

Also read: PHOTOS: Buhari, Osinbajo scrutinising the padded 2016 Budget

The source said that given the controversy generated by the padded budget, the National Assembly Committee on Appropriation and Finance had opted to drop its tough stance against the Presidency and remove the vexatious issues that made President Buhari to reject the budget.

Asked if the Presidency would still take steps to sanction those who colluded to distort the budget, the source said the Presidency was keener on implementing measures to reflate the budget than imposing sanctions on erring elements for now.

Source: Vanguard

- News 24


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