James Abiodun Faleke is the Chairman, House Committee on Finance. In this interview with VICTOR OLUWASEGUN, the lawmaker who represents Ikeja Federal Constituency of Lagos State speaks on various issues regarding the 2020/budget.
The National Assembly is being accused of rushing to pass the 2020/budget, to meet the new budget circle. What’s your reaction to this?
The first thing is to say that the 2020 budget being looked into by the National Assembly will be far better than what we used to have basically, because of you as reporters have seen the level of work that members are putting into it. Unlike before when ministers found it difficult to attend budget sessions, you discover that Mr. President has banned all ministers from travelling and that they are complying. No minister has avoided this budget session.
The members of the 9th assembly are great men and women, and I tell you that as far as the quality of this budget that is coming is going to be, its going to stand the test of time.
What about implementation?
There was a time that the leader then, now Speaker, threatened the House would commence impeachment proceedings against former President Goodluck Jonathan, if implementation did not get to a certain level during his administration.
You see, the essence of having our budget to start from January to December is for it to be properly implemented. Before now, we’ve always passed our budget at any time. It is affecting the business world. Those in the business sector, those in other sectors of the economy. Of course, they look at the policy of the government to plan their own business. Majority of them have their own budget January too December, while government start our own budget may be at times, it could be April; at times June, sometimes July. The long and short of it all is that there is no time frame. Now, every businessman or woman in Nigeria can plan and say look, Nigeria government will release, we will know the government policy on certain things, and it will start from January. So, I can tell you, as the Chairman of Finance, one of the major reasons is to help monitor the revenue collection from January to December. Unlike what we used to have, a carryover. Let me tell you; assuming we pass this budget in July 2020, what it means is that the revenue that must have accrued from January to July of 2020/must has been used to service 2019. But now, if you have the revenue from January to July being used to service the budget of 2020, you will see that the performance will be there. We as a committee on finance are going to be firm and see that we have the adequate revenue paid into the accounts.
The opposition has expressed the fear that this budget might just be rubber stamped because both Chambers of the National Assembly are headed by APC members.
Which opposition?
The PDP Caucus issued a statement to that effect recently.
Signed by who?
The Minority Leader, Rep. Ndudi Elumelu.
That it should not be rubber stamped. Well, it’s because he’s not a committee chairman. There is no chairman of any committee that has not done what he is supposed to do. We cannot be rubber stamping. For the fact that we’re APC, in the National Assembly and the Executive does not mean that we don’t know what Nigerians want. Our job is to work with the government to deliver the dividends of democracy to Nigerians. I mean when they were in control, were they rubber stamping? So, that’s what they were telling us, that they were rubber stamping. So, we do not rubber stamp and were not going to rubber stamp.
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When the Finance Minister was here (at the budget hearing) you mentioned some things that bordered on leakages and how to plug them. People have the impression that the government generally is wasteful, there is so much repetition, and that the budgeting process is cut and paste over the years. What do you say to that?
We have discussed with the Minister of Finance, Budget and Planning to look at the budgetary format to find a way of merging where necessary, and this is going to take effect from 2021. If we are to start it now, it will delay the passage of the budget.
Are you asking government to implement the Oronsanye report on merging of MDAs?
That is left for the executive. For us, we don’t play politics, we’re just making statements. They will study the Oronsanye report and if it is. I’m not saying they should merge ministries; that’s not what I mean. When I say merging, I say look at expenditure heads, the ones that are not necessary, they need to remove them and that them of the system. We’ve been uses to one format over the years, that’s what I meant.
Do you see this House presenting the Budget by December 1st?
We will present the budget by December, I don’t know whether it is 1st, 2nd or 3rd, I have finished my budget for example, I have submitted, and we have harmonised with the Senate. And so many other committees have finished and submitted. This is the first time we’re having this kind of speed, cohesion and quality. What is important is for us to present a credible budget for Mr. President, for him to assent before January 1st.
Are you not worried that were using N2.18 trillion for deficit and N2.45 for debt servicing?
You see, when you inherit a bastardised economy, you try to rebuild and rebuild it. Buhari inherited a bastardised economy, and it takes time to get things sorted out. It’s not magic, there cannot be magic in it, this is exactly what is happening. For us, yes, i should be worried as a finance person. But Nigeria is still stable, the debt service is still good compared to other nations as to our GDP.
‘We will present the budget by December, I don’t know whether it is 1st, 2nd or 3rd, I have finished my budget for example, I have submitted, and we have harmonised with the Senate’
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