Nigeria's 2016 Budget of Change Missing!

January 15, 2016

President Buhari's 2016 “Budget of Change” went missing due to political reasons, a news report has stated. Several thousand of hard and soft copies of the important document allegedly disappeared from the National Assembly, going by media reports on January 12th.

Several senators said they couldn't find their copy of the budget and thus couldn't discuss or pass it during resumption to plenary on Tuesday after their Christmas and New Year recess.

The incident generated a lot of noise in the nation with several individuals pointing accusing fingers. Some alleged that President Buhari submitted an empty box when presenting the budget to a joint session of the national assembly in December, 2015. International media has described it as a humiliating experience for the Nigerian government.

Senate leadership has however denied the reports and said the matter would be discussed soon. The Red Chamber added that it aims to pass the budget before February.

Following the melee, reports have it that the document deliberately went missing so some changes could be made to it. “Both the leadership of the National Assembly and the presidency, as well as Ministry of Finance and the Budget Office, were working to discreetly change certain parameters of the budget proposal following the slide in the global oil price,” the report said.

The current price of oil has fallen $8 below the oil benchmark for the 2016 budget, hovering at $30 per barrel. Other benchmark, the naira exchange rate, might also be adjusted. The Naira has come under intense pressure and many investors see devaluation in the corner.