2018 Budget ‘ll be ready in January, not October – Udoma

Minister of Budget and National Planning, Senator Udoma Udo Udoma, yesterday, reversed himself when he said that the 2018 budget will be ready in January 2018, instead of October 2017 he earlier announced.

Udoma, represented by Aso Vakporoye, the Deputy Director, Economic Growth in the Ministry, spoke in Abuja on Wednesday during the public presentation and capacity building on 2017 agriculture budget.

“For 2018, the Federal Government’s part of it has been concluded with the hope that it will be submitted to the National Assembly in January,” he said.

“Government is putting more effort to address the issue of dry season farming because when the budget is passed on time, it will enable it to provide funds for farmers promptly.”

Udoma said with the effort of relevant stakeholders, and the issue of late passage of budget would be addressed.

Recall that the Minister had said that the budget, which is estimated at N7.9 trillion, will be submitted to the National Assembly by early October 2017 to give lawmakers time to consider the fiscal document and pass it on time.

Udoma said with the effort of relevant stakeholders, the issue of late passage of budget would be addressed.

Also speaking at the workshop, Mr. Ken Ukaoha, President, National Association of Nigeria Traders (NANTS), said the agricultural sector presently contributes more than 22 per cent to the country’s Gross Domestic Product.

Represented by Mr. Nwalabu Legborsi, Head of Legal at NANTS, Ukaoha said investment in the agricultural sector had the greatest potential to move a good number of people out of poverty compared to other sectors.

“In recent times, emphasis has been laid on the diversification of the economy, especially the agricultural sector, which employs a greater number of the country’s population.

“Some initiatives, such as consuming ‘Made in Nigeria’ products, have also been promoted as a way to encourage domestic production of agricultural goods for the country,’’ he said.

He said the association would engage government to improve the quantity and quality of investment in the agriculture sector through the instrumentality of the budget.

Meanwhile, Mr. Tunde Jimoh, the Budget Research Consultant of the association, said Nigeria remains a net importer of foods and its farmers could not compete with their counterparts elsewhere in the world.

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