Now that the 2016 budget has been signed, what next? by Victor Agboga

President Muhammadu Buhari on 6th of May, signed the much delayed 2016 budget into law. According to reports, the budget was returned no less than three times to the National Assembly over allegations of budget padding and misplacement of figures.


It took the executive and legislature a painful five month period to reconcile their differences and pass the budget. Probably not painful for them, but very painful of the average masses who are daily suffocated by the hardships in the country.

But what next after the signing of the 2016 budget of change? The expectation of Nigerians are very high, as we faced untold difficulties in the last few months, when the budget was moving from pillar to post, from the presidency to the House of Assembly.

Nigerians therefore expect that the signing of the budget will bring an end to our sufferings or at least lighten the burden.

The signing of the budget is meant to set several projects afloat, thereby creating numerous  job opportunities. We are also expecting the upgrading our social amenities: electricity, roads, schools, hospitals, etc.

In order words, with the signing of the 2016 budget, Nigerians no longer expect the lingering power outage in the country. So that we can cool our bodies with fans and air-conditioners and drink cold water in this extremely hot weather.

Nigerians are also expecting more jobs for youths roaming the street for gainful employment. We also expect timely completion of several road projects, thereby making our roads safer for use.

In a nut shell, if the signing of the budget does not lead to a better standard of living and a robust economy, then the hope of millions of Nigerians will be shattered.

However, on the realistic side, the budget is not a magic wand that will fix all the problems of the country. As an economist and social commentator recently said in reaction to the signing of the budget, it is not a quick fix for the Nigerian economy but a step towards reviving it.

The Nigerian economy has been hemorrhaging for long and it will be unrealistic to think the budget will tighten up everything immediately. This may take some time and commitment on the part of both the government and private individuals like you and I.

All the same, HAPPY 2016 BUDGET SIGNING DAY. May the budget bring prosperity for us all!