President Muhammadu Buhari has written to the National Assembly, seeking its consent to appear before a joint session of the Senate and House of Representatives on Tuesday, December 22, where he would present the 2016 Appropriation Bill.
Already, it was learnt that the National Assembly had given indication that it would suspend going on Christmas and New Year breaks, if President Buhari would present the 2016 Appropriation Bill before December 25.
Confirming the development to reporters in Abuja, the Chairman, Senate Committee on Media and Public Affairs, Senator Aliyu Sabi, said the Senate considered the request of Mr. Buhari and granted him permission to present the 2016 Appropriation Bill on December 22 as requested.
The presidential memo for the presentation of the 2016 budget came just as the Senate on Wednesday approved the Medium Term Expenditure Framework (MTEF) submitted to the National Assembly.
The consideration and approval of the MTEF paves the way for the presentation of the annual Appropriation Bill.
In what appeared to be a cordial relationship between the legislature and executive, the $38 per barrel oil benchmark proposed by the Presidency was retained even as the lawmakers approved the exchange rate of N197 to $1, also as proposed by the Presidency.