A dwindling resources may force the Federal Government to review the budget, Minister of Budget and Planning Udoma Udo Udoma, has said. He added that the government is optimistic that the persistent fall in revenue projections will not continue for too long.
Udo Udoma, who spoke at a Town Hall meeting in Abuja, noted that the disparity between projected revenue and actual receipts in the last two quarters was obvious.
The meeting which was inspired by the Nigerian Institute of Policy and Strategic Studies (NIPSS) focused on Effective implementation of the 2016 Budget.
Senator Udoma said the government was keeping a close watch on the economic indicators. He said the budget signed by the president was well scrutinised and passed the due process of appropriation in the National Assembly before it was signed into law in May. He said: “We did not assent padded budget. The budget followed through the various stages of preparation and scrutiny and appropriation before it was signed into law.”