The House of Representatives has insisted that the 2016 budget of over N6 trillion would be thorough overhauled by the National Assembly so as to bring it in line with current economic realities.
The President had last week presented the N6.08 trillion budget before the National Assembly with a bench mark of crude oil pegged at $38 per barrel while the actual price had dipped far below the projected budget figure.
However, House Minority Leader, Leo Ogor while reacting to whether the budget was implementable said the President should know that whatever estimates he sent to the National Assembly were “mere proposals,” which might not stand eventually.
“What we have before us are mere proposals. None is sacrosanct.
“That is why we are the legislature, which has the power of appropriation.
“The proposals will be subjected to thorough overhauling, taking into cognisance the current economic realities of the country and our revenue expectations from funding sources,” he said
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