Since the country returned to democratic rule, it has been difficult to have a budget cycle that runs from January to December. President Muhammadu Buhari and the National Assembly have been able to break the jinx, write ROBERT EGBE and TONY AKOWE.
It started like a promise. And in a country were promises are easily broken, not a few felt it would not be fulfilled. President Muhammadu Buhari last year vowed that his administration was going to end the inability of the Federal Government to have a budget cycle, which begins in January and ends in December. He has delivered. He praised the National Assembly for ensuring detailed legislative review and passage of the 2020 Budget in two months.
The country was used to the January-December budget cycle before the return to democracy in 1999. The legislative and executive arms of the government, which are involved in budget preparation and approval, distorted the process due to inadequacies. The delay, according to analysts, caused incalculable harm to infrastructure projects.
Buhari, while signing the budget on Tuesday at the State House, Abuja lauded the lawmakers for the patriotic zeal they adopted in the passage of the bill, saying that it had restored the nation’s budget cycle to a predictable January to December fiscal year.
He said: “I am very pleased that the National Assembly worked uncommonly long hours in the interest of our people and the national economy to ensure detailed legislative review and passage of the Budget within two months.
“This patriotic zeal adopted by the Ninth National Assembly has restored our budget cycle to a predictable January to December fiscal year.
“Furthermore, in the twenty years since the return to civilian democracy, this will be just the fourth time that the Federal Budget was passed before the end of the previous year, and this is the earliest.’’
The President urged the National Assembly to pass the Finance Bill, arguing that if passed, it would support the funding and implementation of the 2020 Budget.
“The passage of the Finance Bill, which I am told will be done in the coming days, will also be a landmark achievement worthy of recognition, being the first time this has been done in the past twenty years.
“We look forward to receiving this bill shortly for Presidential Assent. Once passed into law, the Finance Bill will support the funding and implementation of the 2020 Budget. “We shall sustain this tradition by ensuring that subsequent budgets are also accompanied by a Finance Bill.
“For these achievements I must, therefore, congratulate and thank the Distinguished Senate President, the Right Honourable Speaker, and indeed, all members of the Federal Legislature for their commitment and support.
“Now we are well-positioned to effectively implement the budget and deliver our promises to Nigerians. Businesses will also benefit as they are now in a position to plan more effectively.
“We have to sustain this harmonious working relationship. I expect that going forward, this will be the norm,’’ he said.
Buhari hails Reps for patriotism
Buhari yesterday thanked members of the House of Representatives for the patriotism they showed in passing the 2020 budget on time.
Conveying the president’s appreciation to members at Wednesday’s plenary, Speaker Femi Gbajabiamila said Buhari was appreciative of the lawmakers’ commitment and diligence, which has returned the country’s fiscal year to January-December.
Gbajabiamila told his colleagues that the President was proud of them for putting the country first in working on the budget, which was signed into law on Tuesday.
“I want to convey the president’s appreciation to you all for working on the budget in record time.
“The President thanked all the members for their commitment to returning the country’s budget cycle to January to December,” the Speaker said
While personally thanking his colleagues for their diligence and hard work in the last six months, the Speaker wished them memorable festive season.
“I want to use this opportunity to wish you all a very merry Christmas and happy New Year. I pray God in His infinite mercy will bring us back fresh and refreshed.”
The Speaker also thanked all legislative and other support staff, pressmen, including their cameramen, among others for their commitment.
APC governors excited
Governors elected on the platform of the All Progressives Congress (APC) said the president has set a new record for budgeting process.
In a statement by its Chairman and Governor of Kebbi State, Atiku Bagudu, the governors said the early passage of the budget was a reflection of the commitment of the leadership of the Senate and the House of Representatives to the APC Next Level Agenda.
The statement reads: “On Tuesday December 17, 2019, Mr. President, His Excellency, Muhammadu Buhari, GCFR assented to the 2020 appropriation bill of N10.594 trillion, and by so doing setting a new record in Nigeria’s budgetary process.
“This is the first time since the inauguration of democracy two decades ago that the federal budget is signed before the end of the previous year. The Progressive Governors Forum (PGF) commends Mr. President for this historic feat and restoring the natural budget cycle, thereby enthroning predictability and certainty in public financial management, macroeconomic projections and project execution.
“It is on record that the 2020 Federal Government Budget proposals of N10.33 trillion tagged “Budget of Sustaining Growth and Job Creation” was presented before a joint sitting of the National Assembly on October 8, 2019, earlier than any President had done in the annals of our democracy. This is simply another Next Level accomplishment.
“Even critics of the present administration cannot contradict the fact that this development was an important democratic milestone. It signposts a healthy synergy between the executive and legislative arms of government towards the attainment of good governance in Nigeria. Certainly, this is the Next Level our people are all looking forward to.
“The PGF congratulates Mr. President for achieving this important milestone in our budgetary process. The PGF also commends the 9th National Assembly Leadership that received and passed the Appropriation Bill on a record time of less than two months.
“This feat is a reflection of the commitment of the leadership of the Senate and the House of Representatives to the APC Next Level Agenda and the resolve to cooperate with the executive on critical matters that border on the national interest.
“The Progressive Governors Forum would always support this harmonious relationship between both arms of government at the Federal level in carrying out their constitutional responsibilities in the interest of the Nigerian people.
“We remain committed to a stable polity and economy, and we see this new dawn in our budgetary process will also have a positive bearing on the management of the budgets of state governments in terms of predictability of our financial projections and coordination of policies between the subnational entities and the central government.
“Accordingly, the PGF, in addition to making input at the monthly National Economic Council meeting, would continue to collaborate with the Federal Government so as to stimulate positive public understanding and perception of the key issues and benefits in the budget which in itself is a milestone of transparency by APC led government in a bid to fulfill its campaign promises.
“Through our engagements with the leadership of the National Assembly we would also continue to provide all needed support to enhance the already existing synergy between both the executive and legislative arms of government.
“We will continue to draw lessons from President Muhammadu Buhari’s leadership and take all the necessary steps to replicate it in our respective states.
“Once again, congratulations to President Muhammadu Buhari, Distinguished Senator Ahmed Lawan, Senate President, Rt. Hon. Femi Gbajabiamila, Speaker of the House of Representatives, members of the National Assembly as well as public servants for providing the leadership to achieve this important landmark in Nigeria’s economic and political management.”
Expert, BMO speak
For Momoh Aliyu, a financial expert, early passage and signing of the 2020 budget would project Nigeria in sound financial footings for the year.
Aliyu, in an interview with the News Agency of Nigeria (NAN) in Abuja yesterday, said the N10.594 trillion 2020 Budget passed by the National Assembly was on Tuesday assented to by President Muhammadu Buhari, said: “Nigeria’s Fiscal year has been 12 calendar months from January to December, but for quite some years, Nigeria lost this financial integrity and compliance.
“It has been practically hard for organisations globally to match their budgets to the Nigeria business units.
“The private sector in the country have been in the dark over the future of their businesses for every first quarter to second quarter in some instances.”
Aliyu, who is also a Managing Director of Cyber1 Systems Network International, said the Medium Term Expenditure Frame-work (MTEF) put in place by the government would clear criterial for performance monitoring and a means for strategy where necessary.
He said with a 12-month fiscal calendar budget, the government should create a medium term sector strategy to constantly review the mid-term expenditure framework.
He said this would guarantee sustainability by ensuring early and consistent presentation of the country’s budget and passage.
The Buhari Media Organisation (BMO) also hailed the quick passage and signing of the 2020 Budget.
In a statement signed by its Chairman Niyi Akinsiju in Abuja on Tuesday, BMO said the passage was an indication of the progressive leadership evolving under the present administration.
Akinsiju added that since the return to democratic governance in 1999, Nigeria’s budget cycle had remained problematic, disconnected and in most cases militated against the development of the country. The 2019 budget, he said, was passed in April.
He said Buhari’s desire that Nigeria returns to the January-December budget cycle has spurred the National Assembly into action as members speedily passed the budget on schedule.
“This positive development will bring about a lot of gains for the country, both within and outside, as even development partners will easily align their projects, plans and programmes with our new budget cycle.
“The passage of N10.59 trillion recorded about N263.946 billion addition by the National Assembly. It is worthy of note also that based on the importance the Federal Government attaches to education, the education sector got the second largest allocation of N490 billion, after Defence.
“The early passage of the budget did not happen by chance, but as a result of the cooperation currently existing between the Executive and the Legislature,” he said.
The January-December cycle, Akinsiju said, would augur well for the much anticipated development across all socio-political sectors of the country as the unnecessary delays and politicking that characterised the system in the past have been eliminated.
He added that in some aspects of the budget where there were additions or subtractions by the legislators, they were meant to add value and complement the work of the Executive with a view to achieving the intended objectives for the benefit of all Nigerians.
“Suffice it to say that both arms of government are working in harmony towards delivering democracy dividends to Nigerians as quickly as possible,” Akinsiju said.
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