The federal government said the 2018 budget would run until June next year.
Minister of Budget & National Planning, Senator Udoma Udo Udoma, made this known on Thursday at a press briefing in Abuja on the 2019 budget, attended by Minister of Finance, Mrs. Zainab Ahmed.
Udoma said that urgent steps are being taken to raise funds from Joint Venture Oil assets restructuring to finance the 2019 budget.
His words: “Mr. President has directed that immediate action be commenced to restructure the Joint Venture Oil Assets so as to reduce government shareholding to 40 percent and that this exercise must be completed within the 2019 fiscal year.”
He added that the Department of Petroleum Resources, DPR, has been mandated to complete the collection of past-due oil license and royalty charges, within three months.
“Finally, amongst other revenue generating initiatives, Mr. President has directed that work should be immediately concluded on the deployment of the National Trade Window and other technologies to enhance Customs collections efficiency from the current 64 per cent to up to 90 percent over the next few years,” he said.