Home News JONATHAN SIGNS 2014 BUDGET INTO LAW

JONATHAN SIGNS 2014 BUDGET INTO LAW

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President Goodluck Jonathan has signed the 2014 Budget into law. He did so on Friday morning.

Controversy had dogged the budget following disagreements with the federal legislators by the executive arm of government.

The controversy started from the oil benchmark to be adopted.

Owing to the failure of the executive and the legislature to quickly find a common ground, President Jonathan abandoned the presentation of the budget to a joint session of the National Assembly for the Minister of Finance and Coordinating Minister for the Economy, Dr. Ngozi Okonjo-Iweala to present the budget before the Assembly.

The content of the budget also led to sharp disagreements.

The latest of the controversy surrounding the budget came to light on Thursday when some agencies of the Federal Government presented a budget of N4.4 trillion to the National Assembly for consideration for 2014.

Such agencies included the Central Bank of Nigeria, which had before now insisted that the National Assembly does not need to approve its spending, and the Nigeria National Petroleum Corporation (NNPC).

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