The Nation Newspaper

Tag: 2017 fiscal year.

  • 2017 budget: Senate gives to NNPC, CBN, 36 others marching order

    2017 budget: Senate gives to NNPC, CBN, 36 others marching order

    The Senate Tuesday gave marching orders to the Nigeria National Petroleum Corporation, Central Bank of Nigeria, Federal Inland Revenue Service and 35 other Federal Government agencies to submit their 2017 budget proposals for approval or risk sanction.

    The upper chamber said that it was unbecoming that five months into the year, 38 statutory agencies of the Federal Government have failed to submit their budget proposal for the 2017 fiscal year.

    It said that the agencies continued to make huge extra budgetary expenditure against the law establishing them.

    Deputy Senate Leader, Senator Bala Ibn Na’Allah (Kebbi South) drew the attention of the Senate   to what he described as the abnormality of the agencies to submit their budgets for the approval of the National Assembly.

    Na’Allah noted it is wrong for agencies to spend money that has not been appropriated by the legislature.

    Na’Allah told the Senate that he intends to bring the issue to the floor as a motion so that Senators will understand the implications and the need to assist the government to fight corruption.

    He said, “I deliberately decided that I will bring it on the floor, so that Senators will understand the implications.

    “In our commitment to assist this government to fight corruption, we must stand on our feet that every spirit of our law must be obeyed by those holding public offices. I think that if you permit me I will like to come tomorrow by way of motion, so it can be debated on the Floor of the Senate.”

    “The only approach this Senate can take to assist this government in fighting corruption, is to insist that gross abuse of power and misuse of power must be stopped by every government agency. The only way we can build our institutions is to radically address the issue of abuse of power and misuse of power. I think that if you give me permission, I will like to bring it tomorrow as a motion.”

    Senate President, Dr. Abubakar Bukola Saraki, who agreed with the submission of Na’Allah expressed displeasure over the failure by most government agencies to submit their 2017 budget proposals to the National Assembly for consideration and approval.

    Saraki condemned the practice where agencies of government spend money without statutory approval by the National Assembly.

    He ruled that the Senate would comprehensively debate the issue and take a resolution today.

    Saraki said: “We are already in May.  How can parastatals be operating without any budget, especially in this time of the fight against corruption and ensuring that there is transparency in governance? We need to take this matter seriously because clearly these agencies are just flouting the guidelines and breaking the law.

    “This is a very serious issue because as we all know, in line with the Fiscal Responsibility Act, these budgets are meant to have been submitted to the National Assembly since August 2016.

    “They are supposed to have come with the Appropriation document. We have now passed the 2017 budget without the budgets of the parastatals. I think this matter really needs to come up as a motion because this is a very serious matter. We need to debate it.

    “Leader, this is a very important issue and we must debate it tomorrow and if there is any Committee in exception or that have received from agencies they oversight, then they will have the opportunity to at least clear the parastatals and Agencies, that have sent their budgets.

    “But if as at middle of May, we are saying we have not received any budget from them, then which money are they spending and with what authority? We need to look into that and take a decision that may be they can only pay salaries until they bring their budgets here and approvals given.

    “I think once and for all, we need to address this issue and put an end to this disregard for laws and areas of corrupt practices,” the Senate President said.

    Agencies that are supposed to submit their budget proposals for approval by the National Assembly included NNPC, CBN, Bureau of Public Enterprises (BPE), National Agency for Science and Engineering Infrastructure (NASEI), Nigerian Airspace Management Agency (NAMA).

    Others are the Nigerian Shippers’ Council (NSC), National Maritime Authority (NMA), Raw Materials Research and Development Council (RMRDC), National Sugar Development Council (NSDC), Nigerian Postal Service (NPS), Nigerian Ports Authority (NPA), Federal Airport Authority of Nigeria (FAAN).

    The list also includes the Securities and Exchange Commission (SEC), Nigerian Tourism Development Corporation (NTDC), National Communications Commission (NCC), National Agency for Food and Drugs Administration and Control (NAFDAC), Nigerian Customs Service (NCS) and National Broadcasting Commission (NBC).

    Others are National Insurance Commission (NIC), News Agency of Nigeria (NAN), Nigerian Copyrights Commission (NCC), Nigerian Deposit Insurance Corporation (NDIC), Nigerian Civil Aviation Authority (NCAA), Federal Inland Revenue Service (FIRS), Nigerian Immigration Service (NIS), Nigerian Electricity Regulatory Commission (NERC), Radio Nigeria, Federal Housing Authority (FHA), Nigerian Television Authority (NTA), National Automotive Design and Development Council (NADDC), Nigerian Nuclear Regulatory Authority (NNRA), National Business and Technical Examination Board (NABTEB), Federal Mortgage Bank, National Environmental Standards and Regulations Enforcement Agency (NESREA), Industrial Training Fund (ITF), Corporate Affairs Commission (CAC), Standards Organisation of Nigeria (SON), as well as Oil and Gas Free Zone Authority (OGZFA)

     

  • Edo Assembly passes N153.2billion 2017 budget estimate 

    Edo Assembly passes N153.2billion 2017 budget estimate 

    Lawmakers in the Edo State House of Assembly have passed the sum of N153.2bn for the 2017 fiscal year.

    The lawmakers increased the budget estimate by N3bn.

    Governor Godwin Obaseki had last year presented a budget estimate of N150 billion to the house for consideration and passage.

    Breakdown of Obaseki’s budget estimate showed that N75.11billion was allocated for capital expenditures while the sum of N74.9bn was earmarked for recurrent expenditures.

    Chairman, Appropriation and Project Monitoring, Hon Damian Lawani representing Etsako Central Constituency said the budget reflected the views of the people and was designed to consolidate and complete all ongoing projects.

    The Assembly increased the capital expenditure to N76.6 billion and recurrent expenditure was increased to N76.5 billion.

    A further breakdown of the passed budget showed that the sum of N18.5 billion, N7.2 billion , N3.6 billion and N6.034billion were allocated for the recurrent expenditures of the administrative, economic, law and justice and social sectors respectively.

    Also N5.68 billion, N47.billion and N1.84 billion, and N22.09were allocated for the capital expenditures for the administrative, economic, law and justice and social sectors respectively.

    Speaker Justin Okonoboh directed that clean copies of the bill be sent to Governor Obaseki for assent after the budget was passed.

  • Shettima presents budget for 2017

    Shettima presents budget for 2017

    Governor Kashim Shettima of Borno on Wednesday presented a budget of N183.8 billion to the state House of Assembly for 2017 fiscal year.

     Shettima described the Appropriation Bill as the budget for“Consolidating Restoration and Rebirth.”

    The governor said that the 2017 budget was 15.37 percent higher than the 2016 budget.

    ” This is because the assumptions and expectations of the economic performance this year as rationally thought out are more favourable,”  he said

    Shettima said that the budget would be financed from envisaged internally generated revenue of N29.2 billion and allocation from the Federation Account of N117 billion.

    “The capital expenditure is put at N124.1billion, while the recurrent expenditure is put at N59.6 billion.

    ” The 2017 budget size is more than that of 2016 including virement and special warrant by N24.4 billion.

    “While that of Federal Government is 19.95% higher than 2016 budget due to increase in revenue from Federation Account as a result of relative improvement from crude oil price in the international market and expected improvement from locally generated revenue as a result of relative peace achieved.

    “This year’s budget was purposely designed to actively pursue the strategic policy initiatives of the state government in the reconstruction and rehabilitation of the thousands of structures destroyed by the insurgents and the ultimate return of all our IDPs to their respective homes, latest by May 2017.

    “In view of this, the sum N13 billion is allocated to the ministry of RRR to continue with the massive reconstruction and rehabilitation of towns and villages and all critical infrastructure in the liberated local government areas for gradual return and resettlement of all IDPs,” he said.

    Shettima said about N24.5 billion was earmarked for the education sector and meant for rehabilitation and reconstruction of facilities at secondary and tertiary level.

    “Agricultural sector is allocated the sum of N7 billion to provide the enabling environment for food production, maintenance of plantation sites and introduction of new crop varieties to our farmers.

    “While N19.5 billion was allocated for the health sector to enable them to provide effective health care services.

    “The amount would also cover reconstruction/rehabilitation of all destroyed hospitals and health centres in all the local government areas across the state,” budget he said.

    “On our part, we are going to effectively key into all economic measures, regulations and policies put in place at the centre and also increase our internal revenue generation profile, blocking all leakages effectively to reduce the cost of governance.

    ”budget is, therefore, realistic, implementable and our goals are realizable,” Shettima said.

  • Dickson proposes N221bn budget estimate for 2017

    Dickson proposes N221bn budget estimate for 2017

    …Vows to complete projects

     

    The Governor of Bayelsa State, Mr. Seriake Dickson, has proposed a budget estimate of N221bn for 2017 fiscal year.

    The governor, who presented the estimate to the State House of Assembly for consideration and passage on Wednesday evening, vowed to complete his ongoing projects in the state.

    Presenting the appropriation bill christened, “Budget of Repositioning for Consolidation,” Dickson said, the estimate consisted of a recurrent expenditure of N136.9bn and capital expenditure of N84.3bn.

    Dickson said he expected the budget to be funded by statutory allocation estimated at N191billion, Value Added Tax N6.9billion, internally generated revenue of N15 billion and capital receipts of N8.07billion.

    On sectoral allocations, the governor said N26.9billion was allocated to the Ministry of Works and Infrastructure; education, N13.5billion; health N5.9billion and Agriculture and Natural Resources N4.024billion.

    Power Ministry was allocated N3.4billion, Budget and Economic Planning N3.3billion, Housing and Urban Development N3billion, Sports Development N2.5billion and Community Development and Chieftaincy Affairs, N2.3billion.

    Dickson said N2billion was allocated to the Ministry of Lands and Survey; Transport N1.9bn; Finance N1.7billion; Trade, Industry and Investment N0.739 billion; Information N0.631 billion and Water Resources N0.500 billion.

    He noted that the budget was targeted at achieving increased IGR, through taxation, re-organization of the public service, commercialization of the government-owned agencies and funding of tertiary institutions.

    He assured that by next year the government would only provide monthly subventions to its tertiary institutions, including the Niger Delta University, Amassoma, to address their critical infrastructural deficits and accreditation challenges.

    Dickson also said a special fund of N5billion would be injected for the promotion of entrepreneurship scheme expected to run through a counterpart funding arrangement.

    He listed some of the projects earmarked for completion as the state international airport, model secondary school, the 350 Melford Okilo Memorial Hospital adding that State Healthcare insurance scheme would also take-off.