The assent of the President will officially make the bill become law and signal the commencement of the 2019 fiscal budget.
The development was confirmed by a top official in the Budget Office of the Federation.
The official, who pleaded not to be named as he was not officially permitted to speak on the matter, explained that details of the signed budget would be made available during a public presentation on Tuesday by the Minister of Budget and National Planning, Senator Udo Udoma.
Already, the minister had sent out invitations for the event.
The invitation read in part, “Dear Sir/Ma, On behalf of the Honourable Minister of Budget and National Planning, Sen. Udoma Udo Udoma, CON, the Director General, Budget Office of the Federation hereby invites you to a public presentation of the approved FGN 2019 Budget scheduled as follows: Date: Tuesday, 28th May 2019; Time: 10:30 am; Venue: Main Auditorium, Federal Ministry of Finance, CBD Abuja.”
A presidency source, who also confirmed the signing, told one of our correspondents that the signing of the budget would be performed by the President “around 10 am at the villa.”
Buhari had laid the budget on December 18, 2018 on the floor of the National Assembly but certain extraneous forces such as the Christmas and New Year breaks as well as the general election had affected the quick passage of the appropriation bill.
When the bill was presented by the President to the National Assembly, the sum of N8.83tn was proposed.
It was made up of N4.04tn for recurrent expenditure, N2.03tn for capital expenditure and N2.14tn for debt servicing, among others.
However, after undergoing legislative scrutiny, the lawmakers on April 30 passed the 2019 budget of N8.91tn, raising it by over N90.3bn.
Highlights of the 2019 budget as approved by the National Assembly include the capital expenditure of N2.09tn, recurrent expenditure of N4.05tn, statutory transfers of N502bn, fiscal deficit of N1.9tn, and special intervention of N500bn.
The lawmakers also approved debt service of N2.25tn. Out of the figure, N1.7tn was approved for domestic debts, while the sum of N433bn was provided for foreign debts.
Similarly, the sum of N110bn was approved for a sinking fund to retire maturing debt obligations.
In recent times, there had been a delay in the passage and signing of the Federal Government budget due to disagreements between the executive and the National Assembly.
As a result of the power tussle between the executive and the legislature, the budget implementation had always commenced very late into the year.
For instance, the 2011 budget was passed on March 25, 2011, while that of 2012 was passed on March 14 of that same year.
For the 2013 budget, it was passed by the lawmakers on December 20, 2012, and signed into law by former President Goodluck Jonathan in February 2013 while 2014, 2015 and 2016 budgets were also signed in May of each year.
The 2017 budget, which was submitted to the lawmakers in December 2016, was not passed and assented to until June 2017.
The 2018 budget, which was designed to consolidate on the Economic Recovery and Growth Plan, was presented to the National Assembly on November 7, 2017.
It was passed by the lawmakers on May 16, transmitted to Buhari on May 25 and assented by him on June 20.
Posts
Thank you for reaching out to us. We are happy to receive your opinion and request. If you need advert or sponsored post, We’re excited you’re considering advertising or sponsoring a post on our blog. Your support is what keeps us going. With the current trend, it’s very obvious content marketing is the way to go. Banner advertising and trying to get customers through Google Adwords may get you customers but it has been proven beyond doubt that Content Marketing has more lasting benefits.
We offer majorly two types of advertising:
1. Sponsored Posts: If you are really interested in publishing a sponsored post or a press release, video content, advertorial or any other kind of sponsored post, then you are at the right place.
WHAT KIND OF SPONSORED POSTS DO WE ACCEPT?
Generally, a sponsored post can be any of the following:
Press release
Advertorial
Video content
Article
Interview
This kind of post is usually written to promote you or your business. However, we do prefer posts that naturally flow with the site’s general content. This means we can also promote artists, songs, cosmetic products and things that you love of all products or services.
DURATION & BONUSES
Every sponsored article will remain live on the site as long as this website exists. The duration is indefinite! Again, we will share your post on our social media channels and our email subscribers too will get to read your article. You’re exposing your article to our: Twitter followers, Facebook fans and other social networks.
We will also try as much as possible to optimize your post for search engines as well.
Submission of Materials : Sponsored post should be well written in English language and all materials must be delivered via electronic medium. All sponsored posts must be delivered via electronic version, either on disk or e-mail on Microsoft Word unless otherwise noted.
PRICING
The price largely depends on if you’re writing the content or we’re to do that. But if your are writing the content, it is $60 per article.
2. Banner Advertising: We also offer banner advertising in various sizes and of course, our prices are flexible. you may choose to for the weekly rate or simply buy your desired number of impressions.
Technical Details And Pricing
Banner Size 300 X 250 pixels : Appears on the home page and below all pages on the site.
Banner Size 728 X 90 pixels: Appears on the top right Corner of the homepage and all pages on the site.
Large rectangle Banner Size (336x280) : Appears on the home page and below all pages on the site.
Small square (200x200) : Appears on the right side of the home page and all pages on the site.
Half page (300x600) : Appears on the right side of the home page and all pages on the site.
Portrait (300x1050) : Appears on the right side of the home page and all pages on the site.
Billboard (970x250) : Appears on the home page.
Submission of Materials : Banner ads can be in jpeg, jpg and gif format. All materials must be deliverd via electronic medium. All ads must be delivered via electronic version, either on disk or e-mail in the ordered pixel dimensions unless otherwise noted.
For advertising offers, send an email with your name,company, website, country and advert or sponsored post you want to appear on our website to advert @ alexa. ng
Normally, we should respond within 48 hours.