Read More...
After several months of disagreement between the executive and the legislative arms of government on the 2008 Appropriation Bill, President Umaru Yar'Adua, yesterday, signed the Bill into law with a charge to all government agencies to implement it with "the highest sense of responsibility and with total deference to due process."
The total amount budgeted for the 2008 fiscal year is N2.748 trillion, comprising N860 billion for capital and N1.888 trillion for recurrent.
Although the signing ceremony was billed for 10 o'clock in the morning, it was not until 3:00 p.m that it finally took place following what a source described as the state of the president's health. Reporters were not allowed to witness the event as has been the tradition.
The compromise that was offered last week was signed into action, so this is just confirmation of what was expected to happen. It is good that Nigeria is attempting to build capital, but it is hard to tell how much will actually buy the capital. The banning of reporters during the event shows the strong presence of tradition in Nigeria.
Grade This Post.
No comments:
Post a Comment