President Muhammadu Buhari
President Muhammadu Buhari

The Presidency has given reasons President Muhammadu Buhari didn’t keep to his administration’s promise to present the 2020 budget to the National Assembly in the third week of September.

It also said Buhari, who would visit South Africa this week, would present the budget next week.

This came as findings indicated that the non-presentation of the estimates had increased pressure on the administration to achieve a return of the country to the January-December budget cycle.

Nigeria currently runs a May-June budget cycle, a development caused by executive-legislature delays since the 8th National Assembly. The delays have caused “distortions” in implementation and the inability to meet budget targets.

It also noted that throughout last week, Buhari was away to the United States, where he participated in the activities of the 74th Session of the United Nations General Assembly.