Federal Ministry of Budget and National Planning has kick-started the process to begin the 2018 budget proposals.
This early preparation is to meet up with a resolution that the Executive will submit 2018 budget proposals by October to the National Assembly.
On Tuesday in Abuja an event, tagged: “Flag of the 2018 Budget Preparation Process’’ held behind a closed-doors at the Old Banquet Hall of the Aso Rock Presidential Villa, Abuja.
The event came up less than 24 hours after Acting President Yemi Osinbajo signed the 2017 Appropriation Bill into law.
According to the News Agency of Nigeria, NAN, the objective of the event was to update the ministers and other relevant stakeholders on the processes and procedures expected of the Ministries, Departments and Agencies (MDAs) in the budget preparation.
The objective was also to ensure that that the budget proposals for 2018 align with achieving the key areas highlighted in the Economic Recovery and Growth Plan (ERGP).
The ERGP’s projected that Nigeria will make significant progress to achieve structural economic change with a more diversified and inclusive economy in five key areas by 2020.