Buhari writes NASS on 2016 Budget

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President Muhammadu Buhari on Wednesday wrote the National Assembly, seeking permission to present the 2016 Appropriation Bill to a joint session of the Senate and House Representatives on December 22.

The Chairman, Senate Committee on Media and Public Affairs, Senator Aliyu Sabi, disclosed this while briefing reporters in Abuja.

Sabi said the Senate considered the request of the President and granted him permission to present the 2016 budget on December 22 as requested.

The presidential memo for the presentation of the 2016 budget came just as the Senate on Wednesday approved the Medium Term Expenditure Framework (MTEF) submitted to the National Assembly.

The consideration and approval of the MTEF paves the way for the presentation of the annual Appropriation Bill.

The Senate retained the $38 per barrel oil benchmark as proposed by the executive.

The lawmakers also approved the exchange rate of N197 to $1 as proposed by the Presidency.

Source: The Nation