Amaka Obiefuna.

President Muhammadu Buhari has explained that global drop in oil prices has affected implementation of 2016 budget.

In his speech to the joint session of the federal legislators which just ended, he explained that the current administration was confronting challenges it did not create, while noting that they remain focused on the development of infrastructures across the country.

Reports have it that the President also called on other arms of government and well meaning individuals to collaborate with his administration in resolving the Niger Delta crises.He said that low revenue profile has negatively affected implementation of budget, stressing that the Federal Inland Revenue Services has record a major drop in revenue in 2016 compared to previous years.

He, however, hinted that government stayed above the challenges by ensuring prudent management of resources through implementation of TSA, elimination of ghost workers and recovery of loots.

He revealed that property seized from looters were converted to government office use.

According to him, his administration was working strenuously to diversify other revenue generating sectors, noting that 2017 will be completely different.

Buhari commended the two legislative arms for their commitment through a report on conditions of the economy earlier sent to his office, which he said, was already receiving attention.

He assured that Nigeria will come out of recession in 2017.

Details later…