President Muhammadu Buhari on Tuesday sent the Budgets of agencies and corporations under the Fiscal Responsibility Act 2007 to the National Assembly. In a letter dated June 30, 2016 and addressed to the Speaker of the House of Representatives, Hon. Yakubu Dogara, the President said he was submitting the budget of 38 agencies and corporations in line with extant laws.
Buhari said: “Further to the provisions of the Fiscal Responsibility Act, 2007 which provides that the budgets of the agencies listed in the Act be collated and forwarded to the National Assembly for consideration, I forward herewith the 2016 budget proposals of the under-listed agencies for your consideration and passage.” The President while praying for an expeditious approval of the budgets of the agencies and corporations said that in line with the provisions of the Act, “budget of the agencies and corporations which have been privatized or otherwise ceased to exist are not included herein.”
The submitted budgets include that of Central Bank of Nigeria (CBN), Federal Inland Revenue Service (FIRS), Nigerian National Petroleum Corporation (NNPC), Nigerian Ports Authority (NPA), Securities and Exchange Commission (SEC) and National Agency for Food and Drug Administration and Control (NAFDAC).