By Henry Umoru
WHEN President Muhammadu Buhari, on November 7, 2017, presented before a joint session of the National Assembly, a budget proposal of N8.612 trillion for the 2018 fiscal year, which represented 16 percent increase of N7.298 trillion over the 2017 Budget, the Executive arm of government could not have envisaged controversy the document is currently generating.
Buhari, who tagged the 2018 Budget as that of Consolidation, said it will help to actualize the economic growth recovery plan of the administration.
He explained that fiscal operations are expected to result in a deficit of N2.005 trillion or 1.77 percent of GDP, saying the situation was in line with government’s plans under the ERGP to progressively reduce deficit and borrowings.
Of the N8.6 trillion budget, N456 billion is for Statutory Transfer, N2 trillion for Debt Service, N3 trillion for…
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