Breaking News: Buhari finally signs 2016 budget

Nigeria’s President Muhammadu Buhari has finally signed the 2016 budget into law.

Our correspondent gathered that the clean copy of the budget was sent to Vila on Thursday after amending to grey areas in the budget

In April, the National Assembly transmitted details of the budget to the president after it had passed the bill on March 23.

Earlier, elombah.com had reported that Mr. President would unlikely proceed to endorsing the corrected version of budget 2016 transmitted to him by the Nation Assembly.

This is because the ministers, who raised concerns on the earlier version received by the President, would study the new document again.

A decision on whether the President should sign the document or not will be based on the advice of the Minister of Budget and National Planning, Senator Udoma Udo-Udoma.

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Buhari signed the delayed 2016 budget into law on Friday, ending weeks of wrangling with lawmakers and tripling capital expenditure as Africa’s biggest economy contends with its worst crisis in years.

The 6.06 trillion naira ($30.6 billion) budget is an attempt by Africa’s top oil exporter to stimulate an economy hammered by the fall in crude oil prices. Oil sales make up about 70 percent of national income.

The budget assumes oil production of 2.2 million barrels per day at 38 dollars a barrel, Budget Minister Udoma Udo Udoma told reporters shortly after the signing.

Growth last year fell to its slowest rate since 1999 at 2.8 percent and inflation rose to a near four-year high of 12.8 percent in March while capital imports declined by 74 percent year-on-year in the first quarter of 2016.

In a speech given after the signing, Buhari said the current period was “probably the toughest economic times in the history of our nation”. There is one major problem when it comes to killing bed bugs – they are resilient little creatures. When considering how to remove bed bugs in our homes, many of us would assume a pesticide would work well. Pesticides can work wonders on parasites, but you could also use hot or cold treatments to kill the bugs.

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