Don't Miss


Home   >   Goverment   >   Reps coming with law to enforce early budget submission

Reps coming with law to enforce early budget submission

By on July 7, 2013

Speaker of the House of Representatives, Mr. Aminu Tambuwal has emphasised the need for a budget law that will address the anomalies currently recorded in the budgeting process and also prevent a recurrence of the rancour between the legislature and the executive.

Speaking at the Nigerian Institute of Management’s, NIM, 2013 Distinguished Management Lecture in Lagos, Tambuwal, who was represented by Mr. Opeyemi Bamidele, Chairman, Legislative Budget and Research Committee, House of Representatives, said the Legislative arm of government is becoming increasingly concerned about the over celebration of input oriented budget that does not incorporate a feed back mechanism for output and outcomes and believe that now is the time to redress this error.

He noted that only two sections of the constitution deal with the budget, adding that one of the sections, which states that the Presidency can spend from the Excess Account for six months while the budget is awaiting passage, makes the President one of the most powerful presidents in the world.

He said, “The National Assembly is in the process of amending the provisions concerning the budget that will make it mandatory for the president to have up till September ending to submit the budget for the coming year to the National Assembly. This is to allow the National Assembly three months to deliberate and pass the budget.

“It is perhaps important to emphasise that if our economy is to be turned around, our annual budgets must prioritise programs and projects that deliberately address issues of poverty alleviation, job creation and security of lives and property.

”A consistently good annual appropriation, coupled with other legislations that create conducive business environment will result in a revolutionary turn around of our economy and infrastructure.

“Now I refer to both physical infrastructures like roads, aviation facilities, hospitals, housing among others as well as human infrastructure which include qualitative, relevant and continuing education of the citizenry including moral education. Our cherished values must be incorporated into our educational and social upbringing.”

Also speaking, Mr. Michael Olawale-Cole, President, NIM, said, “More than ever before, Nigeria needs an urgent intellectual revolution to the many leadership challenges besetting it which are threatening the nation’s economic, infrastructural and ethical initiatives and the role of the legislature in making these lofty ideals realisable cannot be over emphasized.”

 

 

[Vanguard]