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July 30, 2007
FG begins preparation for 2008 budget - Reviews Budget 2007
THE Federal Government has kick-started preparations for Budget 2008, just as it has commenced a review of the 2007 budget.
By Olawale Rasheed - 30.07.2007
Findings by the Nigerian Tribune showed that the new Finance Minister, Dr. Shamsudeen Usman, issued the circular to the federal permanent secretaries, asking them to commence collation of data for next year’s budget.
Each ministry is expected to send memoranda to its parastatal agencies for them to state their needs for the next financial year.
The finance minister was said to have given the directive on Friday soon after resuming at the finance ministry headquarters in Abuja.
The minister reportedly cited the need for detailed and correct data to speed up the process of submission of the new budget to the National Assembly as early as possible.
Ministries and departmental heads are expected to meet this week to facilitate the implementation of the budgetary directive.
In a similar vein, the presidency has ordered the immediate review of budget 2007 to address the many shortfalls in the allocation of some parastatal agencies.
The budgetary review is also targeted at addressing certain national emergencies.
Findings showed that the ongoing review is to lead to the preparation and submission of a supplementary budget to the National Assembly in the next few weeks.
Posted by Publisher at July 30, 2007 09:28 AM
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