President Muhammadu Buhari addresses a joint session of the National Assembly (picture: State House)
Former president of the Chartered Institute of Bankers of Nigeria (CIBN) Prof. Olusegun Ajibola on Thursday criticised the National Assembly for tampering with provisions for crucial initiatives within the 2018 finances.
The President signed the Bill into regulation on Wednesday and criticised the federal lawmakers for making some adjustments.
He had submitted a finances proposal of N8.612 trillion to the federal lawmakers on 7 November, 2017.
However, the legislators elevated the proposal by N508 billion to N9.12 trillion, after they handed the Bill on 16 May, 2018.
And Ajibola mentioned it was unhappy that the federal lawmakers lower N347 billion on four,700 initiatives from the estimates submitted for consideration by the manager and launched 6,403 new initiatives amounting to N578 billion.
“They included the Mambilla Power Plant Project, Second Niger Bridge, the East-West Road, Bonny-Bodo Road, Lagos to badan Expressway and Itakpe-Ajaokuta Rail Project,” he mentioned.
Ajibola frowned on the motion of the National Assembly, saying it will frustrate the infrastructural growth initiative of the Federal Government.