Nigeria will revert to the January to December budget cycle from the 2020 national budget, according to Minister of Budget and National Planning, Udoma Udo Udoma.
Udoma said this recently in Abuja when he defended his ministry’s 2019 budget in the Senate.
According to him, the executive is willing to comply with the provisions of the Fiscal Responsibility Act 2007 by submitting the Medium Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly on time.
He, however, said it would be achieved by collaborating with the legislature.
“I believe that going into 2020, this is a year that we should be able to achieve it,” he noted.
“This is the year that we should be able to sit down with the National Assembly and achieve it. The President is determined to achieve it.
“We will be sitting down with the National Assembly so that we can achieve it. And we don’t need to do it by legislation. I think it is better to do it by cooperation, working together.”