He appended his signature on the budget after receiving instruction from President Muhammadu Buhari to do so, according to the Senior Special Assistant to Buhari on Media and Publicity, Malam Garba Shehu.
Signing the budget in the presence of the Senate President, Bukola Saraki and Speaker House of Representatives, Yakubu Dogara, the acting President said that the budget would spur national prosperity.
As he put it, “The signing of the budget signifies the beginning of a breakthrough in the application of the economic and growth plan programme put in place by President Buhari in April.
Commending the National Assembly leadership, Osinbajo said that the legislature worked tirelessly to ensure that the budget is free of errors and mistakes.
“The process of preparing and processing this Bill was much smoother than the 2016 Appropriation Bill”, he said.
He also commended members of the executive arms of the government who had painstakingly taken time to prepare quality appropriation bill.
He said, “I wish to commend the Ministry of Budget and Planning for such a remarkable improvement over a single budget cycle and the joint spirit of the engagements of our MDAs and their various committees on the budget,” he said.
Speaking on the delay in signing the bill into law, Osinbajo pointed out that the little addition by the senate made it so, adding that the executive took time to look at it once again to erase any allegation of error or discrepancy.
The Economic signaling is designed to bring the Nigerian economy out of recession unto a path of sustainable and inclusive growth. The budget has a revenue projection of N5.08 trillion and an aggregate expenditure of N7.44 trillion. The projected fiscal deficit of N2.36 trillion is to be financed largely by borrowing.
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