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Buhari submits corrected version of 2016 budget

President Muhammadu Buhari of Nigeria has submitted a corrected version of the 2016 budget to national assembly, a letter read out on the floor of the senate confirmed on Tuesday.

Following adjustments to the detailed breakdown of the budget that had “led to some confusion”, Buhari then submitted a new draft keeping the overall figures unchanged.

“In this regard, please find attached the corrected version. This is the version the National Assembly should work with as my 2016 budget estimates. The draft bill remains the same and there no changes in any of the estimates,” the letter stated.

It would be recalled that the 2016 budget was reported to have either been “missing” or “stolen”. There were accusations and counter-accusations but somehow the budget has been found and a corrected version submitted.

At the weekend, presidency and senate sources said that a letter had been sent to the two houses and that corrections would be made.

As lawmakers start debating the budget on Wednesday, further adjustments could be made such as to the assumed oil price, currently at $38 a barrel – well above the current market price.

Nigeria’s 6.08 trillion naira budget would see its deficit double to 2.2 trillion naira ($11 billion) under his administration’s plans. Capital expenditure would also be tripled for much needed infrastructure.

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