Business & Finance

Minister: Budget Is Our Economic Blueprint

Lai Mohammed

Minister of Information and Culture, Mr Lai Mohammed, yesterday said the 2016 budget now at the National Assembly is the economic blueprint of the present administration.
Speaking in a radio programme on Silverbird Rhythm 94.7 FM in Abuja yesterday, the minister said the economic plan of any government is from its annual budgetary plan.

There is outcry over the lack of economic direction of this administration by many stakeholders and the private sector operators in recent times.
According to him, the 2016 budget has spelt out the direction of what the government wants to achieve. “For instance, the emphasis of government this year is to ensure that at least 30 per cent of the total budget went to infrastructure – that is capital expenditure – such as roads, rails, power, agriculture and solid  minerals development. Now, this is the major thrust of this administration.
“Two, this administration, as part of its economic plan, is to replenish the economy by bringing in more money to the system to create more jobs and wealth and this is why we are creating 500,000 new jobs for unemployed graduates that we will train as teachers.
“We are also setting aside N500 billion as a social intervention fund to help our youths, artisans and market women. These are the kind of things that our budget, if approved, will see more jobs for people, and create the enabling environment for business to thrive.
“Those who have been accusing the government of being slow, they also must understand that the laws of the land say that you cannot start spending the money until the budget is approved. Meaning that we cannot rollout in full our projects.”

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