Lawan, Senate President
Senators
belonging to the All Progressive Congress (APC) and Peoples’
Democratic Party (PDP) on Thursday commended President Muhammadu
Buhari for adhering strictly to the provisions of the Fiscal
Responsibility Act by ensuring the timely submission of the 2020
Appropriation Bill to the National Assembly.
The
lawmakers, during the second day of debate on the 2020 Budget
estimates, said the early submission of the appropriation bill will
facilitate its quick passage by the National Assembly, as well as
return the country’s budget cycle to the January-December timeline
as provided by Constitution.
Senator
Matthew Urhoghide (PDP, Edo South) applauded President Buhari over
his determination to reverse the poor annual budgetary practice that
characterised late submission of the appropriation bill to the
National Assembly.
He
said: “What President Buhari did this year, is a complete deviation
from what we have been seeing in terms of procedure in the
presentation of our annual budget estimates to the National Assembly.
“For
the first time, the provisions of the Fiscal Responsibility Act (FRA)
were strictly adhered to. Last year, we had the budget presented to
the National Assembly before the MTEF/FSP came.
“We
know the Act states very clearly that MTEF/FSP must come first, and
the National Assembly must pass it, before the budget estimates come.
“This
is the first time we are adhering strictly to this procedure. It is
commendable on the path of President Buhari and the leadership of the
National Assembly."
Urhoghide,
while calling on the Federal Government to ensure that capital
expenditure in the 2020 Budget benefits Nigerians, added that “the
provisions of the FRA as regards the budgetary execution and meeting
of targets must be adhered to."
“It
is the responsibility of the Finance Minister to meet with the joint
Committee of Finance of the Senate and House of Representatives, so
that there is a quarterly briefing of releases and distribution of
funds. This is lacking, that is why there are mistakes in the
execution of the budget," Urhoghide said.
Another
lawmaker, Senator Bassey Akpan (PDP, Akwa-Ibom North East), also
commended President Buhari for throwing his weight behind the
amendment of the Deep Offshore Inland Revenue Act.
According
to the lawmaker, Nigeria stands to benefit “an additional N400
billion for this year” with an amendment to the Act.
He,
however, stressed that the Committees on Appropriation and Finance of
the National Assembly have a task to balance the submission of the
President.
“What
we do as a National Assembly must reflect equitable distribution of
available resources to the good of all Nigerians," Akpan said.
Senator
Clifford Ordia (PDP, Edo Central), while lending his voice to the
debate of the budget estimates, said “this budget of growth and job
creation is apt at this point in time in the history of our national
development because when fully implemented, it will go a long way in
removing our youths from the streets.”
He
added: “The infrastructural development of this country needs to be
handled holistically with timelines. This is the only way we can be
able to attract investors to this country."
While
commending President Buhari for providing N296 billion sinking fund
for payment of local contractors, Ordia urged the Federal Government
to ensure that those owed over a period of time are duly paid.
Speaking
on the manufacturing sector, the lawmaker said “It is supposed to
be one of the major sectors contributing to our GDP. Unfortunately,
this is not the case.
“Presently,
the manufacturing sector and in fact the private sector only
contribute about nine percent to our GDP.
“This
will not create the right environment that would create jobs for our
young school leavers," Ordia added.
Senator
Ayo Akinyelure (PDP, Ondo Central) bemoaned the high level of
unaccountability by Ministries, Departments and Agencies of
government charged with the responsibility of revenue generation.
According
to him, revenues accruable to agencies such as the Nigerian National
Petroleum Corporation (NNPC), Nigeria Immigration Service (NIS) and
Federal Inland Revenue Service (FIRS) if accounted for, are
sufficient to fund the Nigeria’s annual budget.
He
said: “Not much emphasis is made in the revenue of government. The
revenue of NNPC if accounted for can fund the national budget.
“The
internal revenue of the immigration is not accounted for. They are
made away with by contractors.
“When
we talk about increase in VAT, the Federal Inland Revenue must double
its efforts when it comes to remittance of revenues.”
Senator
Akinyelure, however, advised that if revenues accruable to government
are properly allocated to several projects, same would go a long way
in bringing about the much desired development expected by Nigerians.
The
Senate adjourned debate on the 2020 budget estimates till next week
Tuesday.
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