Featured, Latest Housing News, Latest News, Trending News

BUHARI LAMENTS REDUCTION IN NHP FUNDING BY 8.7BILLION

President Muhammadu Buhari has lamented the reduction in the proposed funding for the National Housing Programme (NHP) by the National Assembly.

Buhari stated this while signing the 2018 appropriation bill into law at the State House, Abuja.

The provision for the Federal Government’s National Housing Programme was cut by 8.7 billion Naira.

aihs

The President while expressing concern over the changes made to the 2018 budget, noted that “the logic behind the Constitutional direction that budgets should be proposed by the Executive is that it is the Executive that knows and defines its policies and projects”

He said “unfortunately that has not been given much regard in what has been sent to me. The National Assembly made cuts amounting to 347 billion Naira in the allocations to 4,700 projects submitted to them for consideration and introduced 6,403 projects of their own amounting to 578 billion Naira.

Buhari said “Many of the projects cut are critical and may be difficult, if not impossible, to implement with the reduced allocation. Some of the new projects inserted by the National Assembly have not been properly conceptualized, designed and costed and will therefore be difficult to execute.”

The President however said “notwithstanding the above stated observations, I have decided to sign the 2018 Budget in order not to further slowdown the pace of recovery of our economy, which has doubtlessly been affected by the delay in passing the budget.”

Buhari said it is his intention to seek to remedy some of the most critical of the issues through a supplementary/ amendment budget which he said he hopes the National Assembly will be able to expeditiously consider.

READ MORE:  How can the empty housing crisis in England be improved?

Adeleke Samuel, Housing News

Follow Us on Social Media
ceo
Previous ArticleNext Article

Leave a Reply

Your email address will not be published. Required fields are marked *

WP Facebook Auto Publish Powered By : XYZScripts.com
Translate »

You have successfully subscribed to our newsletter

There was an error while trying to send your request. Please try again.

Housing News will use the information you provide on this form to be in touch with you and to provide updates and marketing.