Africa's most populous country 'loses' every single copy of its budget in its senate

All copies of a version of Nigeria’s 2016 budget have vanished from parliament, according what an anonymous lawmaker told the BBC in a story published Tuesday.

The budget, which was reportedly delivered to parliament at the end of last month by Nigeria’s new president, Muhammadu Buhari, was about to be considered by the country’s senate. Now they will have to wait for copies to be fetched from the lower house and distributed.

As a huge oil producer, Nigeria has seen its economy suffer under the new global reality of falling oil prices. The Buhari budget was stimulus oriented, and laid out a plan to borrow money in order to keep the economy going.

The Nigeria MSCI ETF, which tracks a basket of key Nigerian stocks, has fallen almost 30% over the last year. It spiked briefly in April after Buhari was elected.

Buhari’s office has denied any involvement in the missing documents. Remember that Buhari took over after a Nigerian military coup in the 1980s. And though he beat his predecessor Goodluck Jonathan, in democratic elections last year, some are sceptical that he’s capable of bringing the kind of transformative change that he promised.

Read more over at the BBC>

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