Nigerians have been assured that the 2018 budget when passed, will be implemented far better than the 2017 budget.
The assurances were given on Tuesday by the Federal government in as the Minister of Information and Culture, Lai Mohammed defended the budget of his ministry before the Senate Committee on Culture and Tourism.
The Senate has severally raised questions on the poor implementation of the N7.44trillion 2017 budget, even as the senate continues work on the N8.612trillion 2018 budget estimates.
The ministry was called to question when the Senate Committee on culture and Tourism , queried the ministry of culture on yearly budgetary estimates for furniture and office equipments.
The government said Nigerians should expect proper implementation of the budget given the circumstances in the economic sector now.
“With Nigeria already out of economic recession and price of crude in the international market rising steadily coupled with encouraging production level of oil on daily basis , projected revenues for the budget implementation , particularly the capital expenditure
component, shall be substantially met for better budget implementation performance in 2018″, Lai Mohammed said
The minister said aside the budgetary provisions for developing the tourism Industry in the 2018 budget , efforts were also being made to inject $20m into the sector through strategic partnering with NEXIM and private investors.
” As I speak to you, we are talking to NEXIM Bank. We are equally talking to some investors, who are ready to bring in 20 million dollars.
“We also met the Central Bank Governor asking for an intervention fund to the tune of 100 million dollars to enable people in the industry to invest in infrastructure.
“This is to enable the industries, especially the film industry to have cinema houses all over the country. So, what is important is enabling environment,’’ he said.
But the committee chairman, Senator Fatima Raji Rasaki queried the budget estimates of the ministry over repetition of needed items on yearly basis.
She wondered why the sum of N496.6 million budgeted for provision of furniture and office equipment like computers and others in the 2017 budget appeared again in the proposed 2018 budget for the ministry .
The Minister however responded by attributing inadequate release of appropriated sums for the reoccuring pronections .
