The party chieftains said they decided to shelve the planned protest because of the respect they have for the office of the president and speaker of the House of Representatives, Yakubu Dogara.
The lawmakers had earlier boasted of their plan to protest when the president will present the 2018 appropriation bill to a joint session of the National Assembly.
One of them, Toby Okechukwu, said the lawmakers were not happy with the pace of implementation of the 2017 budget.
He added that it was not just the PDP lawmakers who planned the protest, but also members of the ruling All Progressives Congress, APC.
“It’s not a PDP thing per say,” he said.
“In 2016 he brought N6 trillion, N7 trillion in 2017 and now he is bringing N8 trillion, we are not interested in the trillion, we are not interested in the trillions but rather what you can implement.
“If you don’t have N8trn, why don’t you budget for what you have? It is just mere deception”, he added.
A lawmaker from Lagos State, Oghene Egoh, also said the lawmakers were aggrieved because of the slow pace of implementation of the 2017 budget.