ABUJA: Nigeria's President Muhammadu Buhari will check the 2016 budget bill that parliament passed last week "ministry by ministry" before signing it, he said on Thursday, signalling further delays before the legislation takes effect.
The budget for Africa's top oil producer has been held up for months as Buhari had to withdraw his original bill, which set spending at a record $30 billion, in January, due to an unrealistic oil price assumption and flaws in the draft.
Last week lawmakers approved an amended bill which Buhari has yet to sign as parliament has so far only sent highlights of the new document to his office, a government official told Reuters on Tuesday.
"Some bureaucrats removed what we put in the proposal and replaced it with what they wanted," Buhari said, according to a statement from his office.
"I have to look at the bill that has been passed ministry by ministry, to be sure that what has been brought back for me to sign is in line with our original submission."
On Wednesday, a senior lawmaker said parliament might need another week to work out details of the budget.
Buhari hopes the bill will revive the economy but officials have left it open how it would be funded.
The government has said it might sell Eurobonds or sign a loan deal with China and the World Bank but no deal has emerged.
Oil revenues, which make up about 70 percent of Nigeria's income, have slumped, hammering the naira currency, halting development projects and leaving budget funding uncertain. Nigeria has been trying to restart outdated refineries in Port Harcourt, Warri and Kaduna to end its dependency on costly fuel imports. Three of its four state-owned refineries were closed for five months in 2015 due to maintenance issues and vandalism.
The Nigerian National Petroleum Corporation posted losses of 267 billion naira ($1.34 billion) last year, which largely stemmed from the refining division, according to unaudited results issued in February.
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