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Tag: 2016 Budget

  • Senate confirms 2016 budget missing

    Senate confirms 2016 budget missing

    The controversy over whether or not the hard copy of the 2016 budget proposal is missing has been cleared.

    Senate President, Abubakar Bukola Saraki, Wednesday confirmed that the upper chamber has empanelled a high powered Senate search team to fish out the missing fiscal document.

    The cat of the missing document was let out of the bag by Senator Enyinnaya Abaribe, (Abia South) who came under Senate Standing Order 42.

    Order 42 deals with Matter of urgent national importance which the Senate is bound to consider if the Senate President allows it.

    Abaribe told the Senate that the grievous issue of the “missing and disappearance of the 2016 budget proposal” was widely reported in the media Tuesday.

    He added that most of them had been inundated with questions by their constituents about the whereabouts of the budget proposal.

    Abaribe said that their constituents who genuinely believed and saw the budget as the life wire of the country wanted to know how and why the budget got missing.

    He said that the Senate should not sweep the matter under the carpet in the interest of not only their constituents but the country in general.

    He recalled that the matter of the missing document also came up during their closed session on Tuesday, January 12, 2016 without satisfactory explanation on the whereabouts of the document.

    Abaribe who prayed the Senate to debate the matter so as to tell Nigerians the truth about the disappearance of the fiscal document said that it was also not in the interest of the Senate not to look into the matter.

    He insisted that “the matter is definite and urgent” and should therefore be considered.

    Abaribe said, “The matter that I refer to is what is in every newspaper today, everywhere in all the talk-shows in the radio of a missing budget and therefore Mr President, I want to bring to your attention and the attention of all my colleagues that yesterday in our closed session, this matter also came up.

    “Some of us who are worried, who have been inundated by messages from our constituents who are really worried about what their fate in the 2016, and are asking us, where is our budget.

    “That is why Mr President I think it is definite and it is urgent that we look into this matter.”

    Saraki agreed and said that a team of Senator had already been constituted to look into the matter.

    The Senate President added that Senators should be patient and await the findings of the search team after which the Senate would go into a closed session to discuss the matter.

    He also confirmed that the issue came up during the Senate closed session on Tuesday.

    He said that though Abaribe did not discuss the subject of his Point of Order with him as required by the Senate Rule, he would allow an exception in order to look into the issue.

    Saraki said, “Because of the importance of this (disappearance of the budget) I will allow an exception.

    “You know we are all part of the decision at the close session yesterday and as part of that decision we are still waiting for those we have referred to carry out the assignment to come back to us.

    “I think they will come back to us by tomorrow (today) and we will go into a close session and finish up the report and we will be able to debate it properly.”

    There was an attempt to cover up the issue when Senate President earlier announced that the Senate would commence debate of the general principles of the 2016 budget proposal on Tuesday, January  19  through 21st.

    Saraki also said copies of the budget proposal would be made available to lawmakers on today (Thursday) to enable them go through before the debate.

    He asked lawmakers who intended to make contribution to the debate to indicate interest before the consideration of the debate would commence.

    There was no mention the reported disappearance of the budget proposal until Abaribe blew the lid open to confirm what some Senators had dismissed as speculation on Tuesday.

    Some Senators spoken to spoke wondered “whether anybody can circulate or distribute what you don’t have.”

    A source noted that “As at today, nobody has given or told us in clear terms the sectoral allocations contained in the budget proposal.”

    The Senator said that “it was wrong for the Senate, the highest law making body of the federation to behave as if all is well when it is obvious that something is amiss.”

    He noted that “if the budget was withdrawn, it could have been appropriate and reasonable for those involved in the whole affair to say so.”

    He added, “To smuggle out a budget that was presented to a joint session of the National Assembly under suspicious circumstances is unacceptable to most of us.”

    On Tuesday, President Muhammadu Buhari and Saraki met briefly in the Presidential Villa, Abuja.

    It was not clear what they discussed in the closed door meeting.

    Saraki was reported to have declined comment when confronted with questions on the missing budget.

  • Senate begins debate on 2016 Budget January 19

    Senate begins debate on 2016 Budget January 19

    The Senate will begin debate on the 2016 Appropriation Bill submitted by President Muhammadu Buhari on January 19.

    The Senate President, Bukola Saraki, disclosed this during plenary on Wednesday.

    “Senate President @bukolasaraki announces that the debate of #2016AppropriationBill will commence on Tuesday, 19th January 2016,” the Senate said on its Twitter handle.

  • Senate in stormy session over missing 2016 budget

    Senate in stormy session over missing 2016 budget

    The Senate on Tuesday held a stormy session over alleged disappearance of the hard copies of the 2016 budget proposal.

    The lawmaker were said to have been “troubled” that the fiscal document presented to a joint session of the National Assembly on December 22, 2015 by President Muhammadu Buhari, suddenly developed wings and “disappeared.”

    The “missing document” was said to have been the subject of a closed session summoned by Senate President, Bukola Saraki, shortly after the lawmakers reconvened from their Christmas and New Year break.

    President Buhari had on December 22 last year presented the budget proposal to the joint session of the National Assembly.

    Copies of the budget proposal were however not distributed to the lawmakers before they vacated for the Christmas break.

    The disappearance of the hard copies of the budget document was said to have been disclosed by the Senate leader, Senator Ali Ndume, during a closed door session that lasted over 90 minutes.

    There was no briefing after the secret meeting, but Ndume roundly dismissed insinuations that the fiscal document was missing.

     

  • FG denies withdrawing 2016 Budget proposal

    FG denies withdrawing 2016 Budget proposal

    The Federal Government on Wednesday denied withdrawing the 2016 Budget proposal presented to the National Assembly in December.

    Reports, especially on social media, had attributed the purported withdrawal to suspicious bloating of budgetary votes in the proposal.

    Briefing State House correspondents at the end of the Federal Executive Council (FEC) meeting presided over by President Muhammadu Buhari, the Minister of Information, Lai Mohammed and Minister of Finance, Kemi Adeosun said the allegations were false.

    Mohammed said: “When somebody from the Daily Trust called me, I told him categorically that there is nothing like that. When a story like this breaks out, I believe it will help all of us to actually be able to pin point the source.

    “I know for a fact that this administration has not withdrawn the budget from the National Assembly.”

    He also denied the accusation by the Peoples Democratic Party (PDP) that All Progressives Congress (APC) controlled government plans to exterminate the opposition.

    He said: “I think the first point to make is that this government is not micro-managing any of the anti-graft agencies. I know for a fact that they don’t contact the President or anybody before they do their job. I think the media also has to do more than they are doing right now, they should investigate these allegations and also make their independent judgment about it.

    “Honestly if the EFCC or ICPC says that they are able to trace certain amount of money to my account, I don’t want you to believe it, I want you to also ask for proof, do your investigation. I can assure you that this government, no functionary in government micromanages or directs the EFCC or ICPC on who to arrest and who not to arrest.”

    Speaking further on the alleged withdrawal of the 2016 Budget proposal, Adeosun said: “Let me just speak to you about the budget process. You know the budget is presented to the NASS and then there is what we call an interactive budget approval process and you know the agencies will still go and defend their budget at the NASS.

    “So ordinary in budget processes anywhere in the world, there can’t be amendments to the budgets arising from that interactive process, which is normal. But let me make it very clear the budget is not being withdrawn or replaced, the budget has been presented and will go through normal process whereby MDAs defend their budgets.

    “It is possible in the process of that, because as you know the legislature is not a rubber stamp, their job is to scrutinize the budget and to approve that budget. So there may be some changes that occur as a result of that interactive process. But that process is normal everywhere in the world where a budget is presented. So I think it is important to make that clarification.”

     

  • Group lauds Ambode over 2016 budget, ETF

    Group lauds Ambode over 2016 budget, ETF

    The leadership of National Image, a non-profit youth advocacy organisation has expressed confidence in Governor Akinwunmi Ambode’s government to fully implement the 2016 budget signed into law two days ago.

    National Image coordinator, Seyi Bamigbade who spoke to journalists Wednesday in Lagos expressed delight at the 2016 appropriation bill especially in respect of provisions for capital projects and youths empowerment.

    According to the coordinator, the budget tagged “the people’s budget” if fully implemented will translate to a lot of development and create job opportunities for the teeming unemployed youths in the state.

    “We have always had confidence in Governor Akinwunmi Ambode and that was why we gave him our full support during the electioneering period. We know he can do it and considering the provisions in his first full budget, we are not disappointed at all.

    “The budget has a lot of goodies for the youths considering the amount of money appropriated for wealth creation and employment generation. We only want to appeal that those concerned in the implementation of these policies go about it truthfully and diligently,” he said.

    The group also lauded Ambode for signing N25 billion Employment Trust Fund (ETF) Bill into law; saying the fund has the potential of pulling thousands of youths out of unemployment markets.

    It will be recalled that Ambode had prior to his election promised to establish an ETF scheme to address the challenges of unemployment in the state.

    According to the governor, each year, the state government would inject N6.25 billion into the fund for a period of four years, making N25 billion cumulatively.

    He added that a board of trustees would be announced in due course to manage the fund, saying that members of the board shall be outside the purview of government.

  • 2016 budget not withdrawn, Presidency insists

    2016 budget not withdrawn, Presidency insists

    The Presidency yesterday said the 2016 Appropriation Bill presented to a joint session of the National Assembly by President Muhammadu Buhari, was not withdrawn as being speculated.

    Senior Special Assistant to the President on National Assembly Matters Senator Ita Enang made the clarification in an interview with reporters in Abuja.

    Enang explained that for the fiscal document to be withdrawn there were procedures through communication.

    He agreed that the document could be reworked behind-the-scenes after the second reading.

    “To my knowledge, the budget as laid by Mr. President on December 22, 2015, is still with the National Assembly and has not be withdrawn. If it is to be withdrawn, there is always a communication and budget is not a sensitive thing that it cannot be dealt with behind-the-scenes. It can be worked on behind-the-scenes after the second reading. After second reading the different committees can work on it but it has not been read a second time.”

    Senateý Leader Senator Mohammed Ali Ndume also insisted that the document was not withdrawn.

    Ndume, however, said the document could be adjusted by either the Presidency or the National Assembly before its passage into law, if there was need for such adjustment.

    Ndume, who spoke to reporters in Abuja, said: “It is impossible to withdraw the budget, it is not a document that you can just write and say you are withdrawing it.

    “The budget proposal that has been laid at a joint session of the National Assembly cannot just be withdrawn.

    “However, a budget proposal is not a document that is sacrosanct, you can adjust it and this is why it is before us. During the budget defence, it can be adjusted, if need be”

    Also speaking on the alleged withdrawal of the budget, Chairman, Senate Committee on Works Senator Kabiru Gaya said: “I don’t think it has been withdrawn but whatever the case is, the figure of the budget will not change.

    “Mostly, it is adjustment of priority projects. During the media chat, the President mentioned some few projects, especially some important roads in the country.

    “It is possible that some of the roads may not have been reflected in the budget. There is no way if the President speaks on something, that may be part of his campaign promises and I think, he will try and do it.

    “He also spoke about the railway and that there is a counterpart funding to be put in to the project. So if the figure under the subhead is not defined, then he has the right to readjust it and bring it back to us.

    “The adjustment can also be done even while we are still discussing the budget. Once the main figure did not change, it is possible to make the adjustment.

    “Both chambers of the National Assembly will, for instance, tinker with the figures especially as it affects overheads.

    “If we are cutting 30 per cent from the National Assembly budget, then it has to be done,  pro rata. We must cut across 30 per cent across the agencies, the ministries and all government parastatals.

    “There are duplication of figures, such as purchase of computers. When all duplications are discovered, it is necessary to take them out.”

     

  • Ambode signs N662.588bn 2016 Budget to Law

    Ambode signs N662.588bn 2016 Budget to Law

    Lagos State Governor, Mr. Akinwunmi Ambode Monday signed the N662.588bn year 2016 Appropriation Law with a promise that the budget would be faithfully implemented in line with the determination of his administration to make Lagos work for all irrespective of age, gender, tribe or status.
    The Appropriation Bill, presented to the Lagos State House of Assembly by Governor Ambode on December 17, was unanimously passed into law by members of the House on December 31, 2015.

    Speaking at the ceremony held at the Banquet Hall, Lagos House, Ambode said the 2016 budget was the article of faith of his administration with Lagosians and it was in line with delivering on the promises made to the people.

    He said: “The 2016 budget of N662.588bn will enable our government focus on the present challenges of security, traffic gridlock resolution including physical and social infrastructural developments which have thrown up new challenges quite different from our past experience.”

    The Governor thanked the House of Assembly for speedily ensuring the passage of the bill, saying it was no mean feat considering the long hours spent and meticulous scrutiny provided by the House Committee on Appropriation.

    While recognizing the expeditious attention given to the passage of the Bill into Law by members of the Lagos State House of Assembly, Governor Ambode said the lawmakers deserved to be commended considering the long hours spent and meticulous scrutiny they provided on the budget.

    Governor Ambode said he was not oblivious of the current challenges brought about by the dwindling federal allocations due to falling crude oil prices, but that the budget would be driven by Internally Generated Revenue (IGR).

    He, however, appealed to all Tax Payers to fulfill their civic obligations by promptly paying their taxes, just as he assured that his administration would leave no stone unturned in delivering value for every Kobo spent.

    “In conclusion, I will commend this Budget to all Lagosians and enjoin them to continue collaborating with us in building the Lagos of our dreams,” Governor Ambode said.

    Giving a breakdown of the 2016 budget, tagged “The Peoples Budget”, the Commissioner for Economic Planning and Budget, Mr. Akinyemi Ashade said it will go a long way to promote massive investments in Security, Transport/Traffic management, Physical and Social Infrastructural development in addition to enhancing job creation/opportunities.

    He said the 2016 budget with estimated total revenue of N542.873bn with the balance of N119.714bn expected to be funded through a combination of internal and external loans included World Bank DPO 3 loan which could not be accessed in 2015.

    He said the Lagos Internal Revenue Service is expected to generate N300billion equivalent to 78 percent of the total IGR, however adding that while the state government does not intend to introduce new taxes, efforts will be made towards bringing more citizens into the tax.

    Giving a breakdown of the expenditure plan, Ashade said N89billion will be spent on construction, rehabilitation and maintenance of roads and public buildings, while N48.9billion will be expended on various Transportation initiatives including the completion of the Blue Rail Line and expansion of BRT Corridors (Mile 12-Ojota).

    The Commissioner also said that N86billion will be spent on the education sector, which according to him, will cover the state government flagship programmes including A-Meal-a-Day initiative to be partly sponsored by the Federal Government, Ibile tablets for Secondary Schools as well as the development of the E-Curriculum initiative.

    He gave the expenditure breakdown of other sectors to include, Health (N46.9bn) Agriculture and Food Security (N2bn), Tourism (N2.2bn), Commerce and Industry (N6.2bn), Environment (N27bn), Pensions (N6.5bn), Science and Technology (N9.6bn), Water (N17.6bn), Housing (N25.3bn), Sports Development (N2.3billion), among others.

  • 2016 budget: Nigeria going the way of Greece – PDP

    2016 budget: Nigeria going the way of Greece – PDP

    The Peoples Democratic Party (PDP) has said the N6.08 trillion budget proposal for 2016 by the Federal Government, may throw the country into severe economic recession, like in the case of Greece.

    The party said with the proposed N1.8trillion borrowing to fund the budget, the country would be borrowing N5 billion per day from first day in 2016 to the last day of the year.

    Speaking with journalists in Abuja on Tuesday, the party’s National Publicity Secretary, Chief Olisa Metuh, stated further that there were no clear cut measures put in place to repay the N1.8trn loan being sought by the government.

    He added that there were no corresponding provisions for economic production, in what he described as “a scenario that spells doom for the future of the nation.”

    Metuh said, “Some people may be wondering why we raised the alarm about the budget. The reason is simple. When we analysed the budget, we discovered it is a misshapen attempt at a Keynesian economics of applying deficit spending to stimulate growth even when studies have proven that GDP growth rates decrease by over 50 per cent when debt goes from low or moderate to high. But then we know the borrowing here is to pay huge campaign debt and fund a political war chest.

    “By every standard, this budget is a booby trap against the nation. When you break down the proposed N1.84 trillion borrowing, you discover that it amounts to borrowing N5 billion everyday for the 365 days in 2016. The questions are: for what specific projects are they borrowing N5 billion per day and how do they intend to pay back?

    “The President should explain to Nigerians how they intend to pay back the loan. Is it by continuous borrowing to service the interests, and does he intends to accumulate colossal debt for future generations of Nigerians?

    “The truth is that this administration cannot justify this proposal. There is no known economy in the world where you can justify borrowing N1.84 trillion without specific projects and precise repayment outline.

    “This is worse still in an oil-driven, mono-economy at a time crude oil is selling at $30 dollars per barrel and is speculated to go down to about $20 dollars or even lower in the next one year.

    “The idea can only come when you diversify the economy and boost production capacity in manufacturing and other critical sectors, a direction, which the budget clearly failed to provide.”

     

  • 2016 budget, Nigeria’s best ever – Opadokun

    2016 budget, Nigeria’s best ever – Opadokun

    A renowned legal practitioner and rights activist, Chief Ayo Opadokun, has described the N6.08 trillion 2016 budget presented by President Muhammadu Buhari as the best ever in the nation’s history.

    Speaking with journalists during the 13th edition of Ayo Opadokun’s  Christmas Carol in Offa, Kwara State, ‎the former General Secretary of the defunct National Democratic Coalition (NADECO), said the budget is practically pro-masses‎.

    He said with the allocation of larger proportion of the budget to capital expenditure, Nigeria is moving towards real change, all round transformation, growth and development.

    Opadokun said since the discovery of Nigeria as a country, the nation has never allocated such a huge percentage of resources to infrastructural development.

    On the breakdown of the budget, Opadokun said with the 30 per cent votes for capital expenditure as well as a reasonable proportion for education, Nigeria has begun a journey of certainty and reality.

    He held that the budget gives thorough and adequate attention to all sectors and technically represents the wider interests, aspirations and collective wishes of Nigerians.

     

  • Ishaku proposes N68.8 billion for 2016 budget 

    Ishaku proposes N68.8 billion for 2016 budget 

    Taraba State Governor Darius Dickson Ishaku Wednesday presented to the State House of Assembly a budget of sixty eight billion and one hundred and ten million naira (N68.8 bn) for the fiscal year 2016.

    Ishaku called the appropriation bill “The Rescue Budget.”

    He said he prepared the budget bearing in mind “the realities of times.” “We can only spend what we have; our projections are conservative and based on what we feel are more certain to accrue within the 2016 fiscal period.”

    A breakdown of the rescue budget has recurrent expenditure of N42.7 billion, representing 62.10 percent, and a capital expenditure of N26 billion, representing 37.90 percent of the budget.

    The governor is expecting fiscal projections from the traditional revenues of the federal statutory allocations of N35.8 billion, Internally Generated Revenues (IGR) of N5.3 billion, Value Added Tax (VAT) of N8.6 billion, Aids and Grants N5.3 billion, proposed internal loan of N12 billion and external loan draw down of N1.4 billion.

    Ishaku told The Nation that his priority would be in the areas of agriculture, health and peace.

    Housing and urban development carried the lion share of N4.8 billion, followed by skills and knowledge enhancement programme with N3.4 billion and governance with N3.4 billion.

    Agriculture carried N2.3 billion, health N2.9 billion while roads construction and transportation carried N2.4 billion.

    From the bottom of the expenditure is poverty alleviation with N100 million, youth empowerment with N235.8 million, private sector N297 million, gender empowerment N350 million and airways with N500 million.

    The governor disclosed he has directed that a strategic framework for the implementation of his rescue agenda manifesto be developed between now and the end of February 2016, to serve as the basis for the annual budgets of the state from now to 2019.

    To remain focus on the implementation of the agenda, Ishaku said the framework will be linked with the state’s cash flow.

    He added that all the local councils affected by civil unrest in the past years will be given due consideration.

    “Though our current macroeconomic indices which serve as the benchmarks for our medium term projects for 2016 and beyond are not encouraging, we are facing the future with determination and faith to change our fortune as a state,” he said.

    The Deputy Speaker Muhammed Gwampo who presided as the Speaker pro tempo, said “the appropriation bill will be speedily deliberated upon and put into law in the soonest possible time, so that we shall not delay the governor in his agenda of rescuing Taraba state.”