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President Buhari Will Receive 2018 Budget On Friday, Says Saraki

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Senate President Bukola Saraki has promised that the 2018 Appropriation Bill will be presented to President Muhammadu Buhari on Friday.

Dr Saraki said this on Thursday when he led members of the National Assembly to the State House to break the day’s fast with President Buhari.

According to the Senate President, the delay in presenting the budget to President Buhari is because both chambers of the National Assembly were harmonising the budget.

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The National Assembly had passed the 2018 Appropriation Bill on Wednesday, six months after President Buhari presented the bill to them.

President Buhari had proposed a budget of N8.612 trillion to the National Assembly but the lawmakers increased the proposed figure by N508 billion, to N9,120 trillion.

The delay in passing the budget had led to accusations and counter-accusations between both arms of government with the lawmakers blaming it on the failure of Ministries, Departments, and Agencies to submitted details of their budget proposals to them.

On Wednesday, the Minister of Budget and National Planning, Udoma Udo Udoma, told journalists after the Federal Executive Council that the President had yet to receive the bill, one week after it was passed.

The Senate President, however, believes that it is just a matter of hours before the President receives the budget.

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Business

Absa became the new competitor on the Ethiopia market.

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Absa Bank Of South Africa’s  has become the Latest Multinational Corporation to show Interest in Organizing the Ethiopia market.

Ethiopia has since Prevented Foreign Ownership in Economic Sectors that Includes Banking but Abiy Ahmed has began to take fast Action on the issue since he came to power in April.



Jason Quinn, the bank’s chief financial officer, told reporters that Absa was investigating on how and where to enter in a number of populating market, including Nigeria and Angola.

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Am Entrance made into the Ethiopia market of 100 million People, would be part of a Scheme made by Absa after it break from Britain’s Barclays in 2017.

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Ethiopia has plans to liberalise state-owned companies including Ethiopian Airlines, Ethio Telecom, Ethiopian Shipping & Logistics Services Enterprise, and Ethiopian Electric Power, in order to attract foreign direct investment and stimulate growth.

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Motherland News

Black box of the Ethiopian Airline Crash recovered.

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The United Nations described the Sunday crash of the Ethiopia airline as disastrous saying it has cost them a great loss.



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Michael Moller, director-general of the U.N. European head garters said this was the worst loss suffered in years in Geneva in a statement where 150 people where gathered.

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Investigators in Ethiopia have recovered the black box from the ill-fated Ethiopian airline this Sunday.

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