FG To Budget N7trn For 2017 – Osinbajo
Vice President Yemi Osinbajo has hinted that the federal government will budget N7 trillion for 2017.
LEADERSHIP recalls that the federal executive council ( FEC) on Wednesday approved the 2017 budget proposal which will now be forwarded to the National Assembly for further deliberations.
According to Prof. Osinbajo, while speaking at a tour of a N64B food processing industrial complex earlier today, the Federal Government is looking at some game-changing projects “such as we have here” that requires serious investment and significant investment.
He stated in a statement by his spokeman, Laolu Akande, that the Buhari administration would support such game-changing projects such as the multi-billion Naira food processing industrial complex underway in Sagamu by the Honeywell group and the Shea-Butter Factory owned by the Lad Group in the same town.
He said ;The Federal Government very strongly believes that there is no way of delivering on our economic agenda without a serious partnership with the private sector.
“Our entire budget size for 2016 is something in the order of just over six trillion Naira, and we will probably be moving to about seven trillion in the 2017 budget.
” But seven trillion is certainly not the kind of money, it does sound like a fair amount of money, but certainly, its not the kind of size that can really make a huge difference in a ninety trillion Naira economy such as we have.”
He said the real contribution is going to come from the private sector and that’s why these partnerships are absolutely important to the government saying “what we are looking at is some game-changing type of projects, such as we have here.
The Vice President who took along other top government officials including top officials from the Ministry of Industry Trade & Investment, Bank of Industry, and the NEXIM Bank
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