Reps To Suspend Plenary, Commence Work On 2018 Budget

Reps To Conclude Work On Constitution Amendment Thursday
File photo

The House of Representatives on Tuesday, November 28 announced that it will suspend plenary from Thursday, November 30.

The Deputy Speaker of the House, Mr Yussuff Lasun announced this today during the debate over the proposed 2018 Budget.

President Muhammadu Buhari on November 7, 2017 addressed a joint session of the National Assembly concerning the 2018 Appropriation Bill and presented the proposed total expenditure of N8.612 trillion to the National Assembly.

READ ALSO: Buhari Presents 2018 Budget Proposal To National Assembly

The House Representatives started debate about 2018 Budget today, November 28 during its plenary with the Deputy speaker presiding over it.

Lasun said that debate is not tantamount to passing the bill but the debate is necessary so that things will be done accordingly and the calendar will be followed.

He said the suspension is necessary to allow members proceed on oversight assessment and to be able to do proper defence sessions for the 2018 budget.

The suspension will last for three weeks.

Presentation Of 2018 Budget Proposal In Photos

President Muhammadu Buhari on Tuesday, November 7 presented the 2018 Budget proposal to a joint session of the National Assembly.

The presentation was moderated Senate President Bukola Saraki and Speaker of the House of Representatives, Yakubu Dogara.

See Photos below…

Amosun Signs 2017 Budget Into Law In Ogun State

Ibikunle Amosun Signs 2017 Budget Into Law In Ogun StateThe Ogun State Governor, Ibikunle Amosun, has signed the 2017 budget of 221 billion Naira tagged “Budget of Repositioning” into law.

Flanked by the Speaker of the state House of Assembly, Mr Suraj Adekunbi and some members of the state executive council, the Governor promised to implement the contents of the budget to the fullest, despite the current financial challenges in the country.

The budget outlook puts capital expenditure at 118 billion Naira, representing 53.5% while the recurrent expenditure stands at 102 billion Naira, representing 46.5% of the total budget.

Education, infrastructural development, rural development and others are expected to take the pride of place in the budget.

Governor Ahmed Presents Kwara Budget 2016

Kwara Budget The Kwara State Governor, Abdulfatah Ahmed, has presented a budget estimate of 116,164, 043,000 naira to the state House of Assembly for the 2016 fiscal year.

The estimate is a decrease of over 1.5 billion naira over the 2015 revised appropriation which represents 1.3% decrease.

Out of the estimate, the budget is made up of recurrent expenditure of over 48 billion, over 10 billion naira for the public debt service while over 57 billion is earmarked for capital expenditure.

Tagged the budget of sustained expansion, the State Governor, Abdulfatah Ahmed, who laid the budget before the state lawmakers, said that the budget proposal was based on zero-budgeting approach for ministries, departments and agencies to justify all their expenditure needs in line with the prevailing economic situation in the country.

According to him, the total projected revenue estimate from all available sources to the state for 2016 fiscal year is over 116 billion naira.

Governor Ahmed also said that the 2016 Kwara budget holds great opportunity for the state and country, despite the challenges ahead.

He called on residents of the state to continue to cooperate with the government in its effort to elevate the state and contribute their quota to the development of the state.

Economist says Nigeria has one of the best budgeting systems in the world but…

An economist, Sam Olisa on Thursday said that Nigeria has one of the best budgeting systems in the world but the only challenge the country face is implementation.

Speaking as a guest on Channels Television’s breakfast programme, Sunrise Daily, Mr Olisa said the indices to measure the success of a budget should not be the percentage of implementation as suggested by either a Minister or the National Assembly but on its impact on the ordinary Nigerians.

Economist says budget for 2013 better than that of 2012

An economist, Katchy Ononuju on Thursday said that next year’s budget as proposed by President Goodluck Jonathan before a joint session of the National Assembly on Wednesday is by far better than that of 2012.

Mr Ononuju, who was a guest on Channels Television’s programme, Sunrise Daily, said: “This is a much better budget as a proposal of intent than the last one we had. In this, we’ve been able to reduce our exposure to recurrent expenditure. We actually brought it down from the former 72 percent to now 68 percent.”

The economist said the reduction of recurrent expenditure will help release more money for capital expenditure. He said those in government need to ‘put something in for those who voted politicians into place.’

Analyst asks government to trim down agencies’ budget items

A public Finance analyst, Professor Akintola Bello on Thursday said one of the challenges facing budget implementation in Nigeria is the inclusion of too many items on the budget list by government agencies.

Speaking as a guest on Channels Television’s programme, Sunrise Daily, Mr Bello said: “I don’t think that our people do budget very well. If you give anything (project) to an agency and ask them to cost it, they will come up with a cost and the costing is so bogus. There is no rationale to the cost; they just put an idea there.”

The financial analyst said the government lacked the capacity to do costing insisting that outlook of the previous budget should determine the subsequent one.