Economy suffers as FG, NASS play Ping-Pong with budget

With few weeks already gone in the second quarter, many Nigerians are wondering why the 2016 budget is yet to be passed. The worries over the  prolonged delay in the passage of the budget is more than justified given the fact that the economy has literally been in slumber these past months.

The genesis of the crisis began when the issue of the ‘missing budget’ made headlines in December. That led to hoopla with the issue of budget padding, when it was discovered that some persons had sexed up the figures in the budget for their selfish aggrandisement.

As to be expected, the Buhari government whose image was sullied and badly bruised over the budget padding fiasco vowed to get to the root of the matter. The controversial budget was withdrawn for resubmission to the NASS.

That process was concluded and the NASS sealed, signed and delivered what in their reckoning was a foolproof document for the assent of Mr. President. Read More...