23 May 2016
The Budget office of the Federal Government of Nigeria has uploaded online the complete details of the 2016 Budget. The full and complete details of the 2016 Budget can be found online via the Budget Office website; www.budgetoffice.gov.ng
The 2016 Appropriation Act is an act to authorize the issue from the Consolidated Revenue Fund of the Federation the total sum of =N= 6,060,677,358,227 (Six Trillion, Sixty Billion, Six Hundred and Seventy-Seven Million, Three Hundred and Fifty-Eight Thousand, Two Hundred and Twenty-Seven Naira) only. From which the Accountant-General of the Federation shall, when authorized to do so by warrants signed by the Minister charged with responsibility for finance, pay out of the Consolidated Revenue Fund of the Federation during the year ending on the 31st day of December 2016, the sums specified by the warrants, not exceeding in the aggregate sum of =N= 6,060,677,358,227.
This move is an important step in the Buhari-led administration’s bid to prove that focus is indeed on transparency and is a positive step in the fight against corruption which has already been named as a major problem facing the Nigerian economy and society.
Many civil groups, associations and watch dogs have already begun following the Appropriation Act closely, especially after the signing a few weeks ago.
Author: Aderonke Adeleke
Writer. Music lover. Movie junkie. Social Media Enthusiast. Aspiring dancer. Aspiring photographer. Social Introvert.