Minister of State for Budget and Planning, Zainab Ahmed, says the Executive Arm of Government may complete work of the 2017 budget proposal in the next two weeks.
The minister gave the indication that the budget would be sent to the National Assembly before the end of the year after an interactive meeting with a Joint Committee on Appropriation in the National Assembly.
The minister who spoke to Channels News after the meeting said the document was at an advanced state and would soon be ready for submission to the National Assembly.
“The 2017 budget process is in its advanced stage. We still have to take it to the Federal Executive Council before submitting it to the National Assembly.
“The executive side should be able to complete its process in the next two weeks.”
The Federal Government has also said that the focus of the 2017 Budget would be to stimulate private sector investment and fast-track the exit of the economy from recession.
The Minister of Budget and National Planning, Udoma Udoma, who stated this in Lagos on Monday at a breakfast interaction meeting with Chief Finance Officers of top private sector corporate entities, facilitated by KPMG Consulting, said the budget would soon to be submitted National Assembly for consideration.
He said the renewed emphasis on stimulating private sector investment was predicated on government’s belief that it was only by partnering with the private sector that the economy can be propelled out of recession and onto the path of sustainable growth.
The FG has also stated that of the N6.06 trillion that was budgeted for the 2016 fiscal year, it has spent about N3.577 trillion as at September 2016 and this translates to a 79 percent performance recorded by the budget.