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Tag: Minister of Budget and National Planning

  • Fed Govt plans more revenue sources, says minister

    The Minister of Budget and National Planning, Udoma Udo Udoma,  has said the Federal Government is determined to improve its revenue generation this year and has already taken a number of steps to achieve the plan.

    He spoke at the House of Representatives Joint Committee on Finance, Appropriation, Planning and Economic Development on the 2019 revenue and expenditure projections as contained in the Medium Term Expenditure Framework and Fiscal Strategy Paper (MTEF/FSP) 2019-2021).

    He said  that one of the reasons it could not realize its revenue target for 2018 was that some one-off items listed for implementation in the fiscal year were not actualized.

    But he said those items which include the N710 billion from Oil Joint Venture Asset Restructuring and N320 billion from revision of the Oil Production Sharing Contract Legislation/terms have been rolled over to 2019.

    Read also: Returning the lost glory of palm oil farming in the Niger Delta

    Among other initiatives aimed at expanding the fiscal space, the Minister indicated that the Federal Government will intensify efforts to improve public financial management through the comprehensive implementation of the Treasury Single Account (TSA), the Government Integrated Financial Management Information System (GIFMIS) and the Integrated Payroll and Personnel Information System (IPPIS).

    Also the Department of Petroleum Resources has been directed to, within three months, complete the collection of past-due oil license and royalty charges, including those due from Nigerian Petroleum Development Company (NPDC) (a subsidiary of NNPC), which it had agreed to pay since 2017.

    Udoma said the Ministry of Finance, working with all the relevant authorities, has been authorized to take action to liquidate all recovered, unencumbered assets within six months.

    Amongst other revenue generating initiatives, he said the President has directed that work should be immediately concluded on the deployment of the National Trade Window and other technologies to enhance customs collections efficiency from the current 64 percent to up to 90 percent over the next few years.

    He indicated that in spite of the challenges that militated against the realisation of targeted revenues, the revenues generated in 2018 showed a significant improvement over 2017.

     

     

  • FIRS refutes report of 50% VAT increase

    The Federal Inland Revenue Service (FIRS) on Wednesday refuted report of planned increment of Value Added Tax (VAT) by 50 per cent to meet up payment of the newly proposed minimum wage.

    The Head, Communication and Servicom Department, Mr Wahab Gbadamosi, made this known in a statement in Abuja.

    The Minister of Budget and National Planning, Sen. Udo Udoma and Dr Babatunde Fowler, FIRS Chairman, had appeared before Senate Committee on Finance at the 2019-2021 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper ((PSP) interactive meeting on Tuesday.

    Gbadamosi explained that at the meeting, Fowler had called for an increase in the number of Nigerians and companies paying VAT and not a 50 per cent increase in VAT rate as reported.

    He said that contrary to reports in the media, the FIRS Chairman called for a reduction in Companies Income Tax (CIT) rate for small businesses so as to improve compliance.

    “Though he indicated that there should be an increase in VAT rate by the end of the year, he never for once suggested a 50 per cent hike of any percentage increase at all.

    “Rather, he promised improved collection in CIT, Petroleum Profits Tax, PPT and VAT in 2019 relative to the collection performance of the Service in 2018,” he said. (NAN)

  • Improved healthcare is priority for Buhari’s administration — Udoma

    President Muhammadu Buhari’s administration places a very high premium on improving health care delivery and social welfare of Nigerians, according to Minister of Budget and National Planning, Sen. Udoma Udoma.

    Udoma said this in a statement signed by his Special Adviser on Media and Communication, Mr Akpandem James, on Tuesday in Abuja.

    Speaking at the opening of the ‘Value for Money in Health Sector Workshop’, Udoma said Buhari’s administration was prioritising health-related expenditures in all the national budgets.

    According to him, that is why in spite of the very tight revenue constraints and the demands of other competing sectors, the health sector has continued to receive increased allocations.

    He said there was a reduction by 3.2 per cent of the aggregate Federal Government expenditure from N9.12 trillion in the 2018 budget to N8.83 trillion in the 2019 budget proposal.

    Udoma, however, said an increase of eight per cent was proposed in the 2019 budget over the amount allocated for health in the 2018 budget.

    He added that there was a need to ensure that these increased expenditures were actually improving healthcare outcomes.

    “As we are able to demonstrate and show improved healthcare outcomes for the money we are currently spending, government at all levels will be encouraged to further increase funding to the health sector,” the minister said.

    Udoma said that government would continue to be supportive of increased funding to the health sector and urged the workshop to examine and advise on innovative ways of doing so.

    “It is even more critical that we institute key reforms to maximise the values derivable from the allocations to the healthcare sector through improved efficiency in the use of budgeted funds,” he said.

    He emphasised that the workshop was to enable the participants to deliberate on how to achieve better outcomes for expenditure in the health sector.

    “This is an important issue as most developing and middle-income countries, particularly those like Nigeria with large and rapidly growing populations.

    “They need to find more effective and efficient ways of delivering quality health services to their citizens.

    “This is why in the administration’s economic blueprint, the Economic Recovery and Growth Plan (ERGP), one of the three principal objectives of the Plan is ‘Investing in our People.”

    In particular, Udoma said in the ERGP, the Federal Government committed the country to investing in health and education in order to meet the international targets set under the UN’s Sustainable Development Goals (SDGs).

    “Under the ERGP the country is committed to improving the accessibility, affordability and quality of healthcare,” the minister said.

    Udoma drew attention to the fact that apart from the federal government, the various state governments and the local government councils have also been prioritising health expenditures in their budgets since responsibility for the health sector was constitutionally shared among all the tiers of government.

    Spending by the sub-national governments, he said, must therefore, be taken into account in any assessment of the amount of public funds that is being expended in the health sector.

    “Indeed, no meaningful discussion about improving healthcare in Nigeria can take place without involving the sub-national governments,” he said

    Udoma, however, expressed the hope that the outcomes of the workshop would help shape public sector expenditure management practices at both the Federal and the sub-national levels, with respect to the health sector. (NAN)

  • Budget minister seeks more revenue for wage raise

    The Minister of Budget and National Planning, Udoma Udo Udoma, has asked the Technical Committee on the Implementation of a new Minimum Wage to identify additional sources of revenue for the success of the planned wage increase.

    He explained that  whenever new minimum wage bill is enacted, there are demands for wage increases even from those already earning more than the new minimum wage. All these salary increases will impose additional costs on government.

    He said the committee is expected to make suggestions as to how government can raise additional revenue to ensure that government can still meet its expenditure on other services such as education, health, infrastructure and other important functions of government, after paying the increased salaries.

    “The committee is expected to, amongst other things, look at how to get additional revenues so that as our wage bill goes up, we are able to increase our revenues to ensure that our spending on capital projects, our spending on basic infrastructure, our spending on health, our spending on education and others is not reduced. In short, the committee is to advise on ways to ensure that notwithstanding the increase in payroll costs, there continues to be adequate funding for other government activities. This is not just for the 2019 fiscal year, but going forward, thereafter,” he said.

    On the issue of the budget deficit, the minister said government is proposing to bring it down slightly from the N1.95 trillion projected for 2018 to N1.895 trillion in 2019. This, he said, is 1.3 per cent of Gross Domestic Product (GDP), well within the three per cent limit set by the Fiscal Responsibility Act.

    As regards the debt service to revenue ratio, he assured that as our revenue situation improves that ratio will come down.

    As the minister emphasised “Nigeria does not have a debt problem, as such. Our debt is within prudent limits. However, we need to optimise our revenue generating potential. This will bring down our debt service to revenue ratio. Given the size of our economy we can, and should, be doing better, in revenue generation. This explains our focus as a government on revenues and revenue generation.”

  • 2019 Budget proposal ready for presentation 

    The Federal Executive Council (FEC) meeting on Friday approved the 2019 Budget proposal for onward transmission to the National Assembly.

    The Minister of Budget and National Planning, Udoma Udo Udoma briefed State House correspondents at the end of the special FEC session chaired by President Muhammadu Buhari.

    Read Also:2019 budget: Special FEC session to hold Friday

    He was with the Minister of Information, Lai Mohammed.

    According to him, it is now left for the National Assembly to agree on a date when President Muhammadu Buhari can present the document to the two chambers of the National Assembly.

    Details Later…

  • Audio: FG orders audit of Dana airline 

    Audio: FG orders audit of Dana airline 

    The Federal Government on Wednesday ordered complete audit of Dana airline.

    The airline had recently been involved in non-fatal accidents in the country, with one of its plane over shooting the runway in Port Harcourt and another one had its door failing off while taxiing at the Nnamdi Azikiwe International airport, Abuja.

    Briefing State House correspondents at the end of the Federal Executive Council (FEC) meeting, the Senior Special Assistant on Media and publicity, Garba Shehu, said the audit will cover the personnel and assets of Dana airline.

    He was with the Minister of Defence, Mansur Dan-Ali, Minister of Budget and National Planning, Udoma Udo Udoma, and Minister of Niger Delta Affairs, Usani Uguru Usani.

    Garba Shehu said “A lot of quality time was spent discussing air safety. The government of Nigeria is very much concerned about safety and the life of Nigerians; this is following the recent air incidents.

    “Minor as they were because there were no fatalities, the government did feel concern and the Minister did the report to the Council on steps that were taken following the last incident in Port Harcourt, Dana aircraft overshooting the runaway. As soon as that happened, a few seconds, a rescue team was there on the ground and few moments thereafter every passenger on board was evacuated. There was no harm to persons and this is something that should be celebrated.

    “Within 24 hours an official investigation had commenced because investigators arrived in Port Harcourt and began work. One week after that a preliminary report was prepared and it was about this that the Council was briefed.

    “Consequently as announced by the aviation authorities, the engineer and pilot of that particular aircraft got their licences suspended and beyond that the government has ordered a complete audit of Dana airlines in terms of personnel, operations, and technical capacity,” he said.

    He also disclosed that the Council has approved the augmentation of the contract sum for the rehabilitation of Burnt Marina Bridge and the Maintenance of Eko (Apobgbon) and Iddo bridges in Lagos State, in Favour of Messrs. Buildwell Plant and Equipment Industries Limited, in the sum of N114, 424,225.05.

    The amount, he said, represented 12 percent of the original contract sum.

    https://soundcloud.com/thenationnewspaper/fg-orders-comprehensive-audit-of-dana-airline

    He said that the contract sum was reviewed from N957, 053,316.45 to N1, 071, 29,541.40 with additional completion period of six months.

    The Council, he said, also approved augmentation for Mangu Dam, in Plateau State to N7.66 billion from original cost of N5.66 billion increasing the total contract sum to N13.2 billion.

    Dan-Ali said that his Ministry presented to the Council the status of the implementation of approved capital projects and achievements of the Ministry of Defence from 2015 to 2017.

    The presentation, he said, covered the strategic policies of the Ministry, including to build and maintain flexible, compact and highly trained Armed forces capable of defending the territorial integrity of the nation.

    He said “The brief also covers the serviceability of the military platforms, operational readiness, future projections and the way forward. During the period under review the Ministry received a timely consideration and approval of its capital projects and the Armed Forces in general.

    “This no doubt resulted to the successes recorded so far in the fight against terrorists and other security challenges in the country. It is pertinent to state that prior to assumption of office by President Muhammadu Buhari, most of the military platforms and hardware were old, worn out, non-functional and obsolete.

    “However, it is gratifying to mention that this administration have made tremendous efforts in the provision of funds for the acquisition of modern military hardware to meet up with security challenges. High priority was also placed on renovation of existing barracks facilities to cater for the welfare of the members of the Armed Forces.

    “Some of the facilities renovated were neglected for over forty years. Between 2015-2017 a total of 18 rehabilitation works have been carried out in various barracks across the six geo political zones by the Ministry. Similarly Defence Headquarters also approved 36 capital projects within the period.

    “The Nigerian Army embarked on 68 approved projects. Nigerian Navy implemented 31 projects while a total number of 64 projects were also implemented by the Nigerian Air force,” he said.

    According to him, he also gave breakdown of capital projects implementation stage by other agencies of the Nigerian Defence Academy.

    “The Armed Forces Command and Staff College implemented 23 capital projects Similarly, the National Defence College got approval for 69 projects some of which were already completed while others are on-going. The Defence space Administration has so far implemented 32 capital projects from 2015-2017. Defence Intelligence Agency has 11 projects approved and most of them are already completed or at various stage of completion The Defence Industries Corporation in Kaduna got approval for 38 projects, some already completed while paucity of funds is affecting the completion of others The Armed Forces Resettlement Centre, oshodi had 38 capital projects approved, most of the projects are already completed It is worthy to mention that since independence no projects of such magnitude and number were achieved in less than 3 years,” he said.

    He also said that the presentation also proposed a way forward for the implementation of a comprehensive reform of the entire defence management system with a view of promoting effectiveness, transparency, accountability and self-reliance.

    According to him, the role of the Presidency/Armed Forces Council and the National Assembly were identified as paramount in the implementation of the defence sector reforms.

    He said that the Defence Headquarters will also improve on training of personnel, improvement on the serviceability rate of equipment by conducting regular audits of existing assets.

    Udoma said that he briefed the Council on the NBS recent report.

    He said “I presented a briefing to the Federal Executive Council today on the most recent Gross Domestic Product and other related economic performance numbers as released last week by the National Bureau of Statistics (NBS).

    “You will recall that it indicated that in the last quarter of 2017 the economy had continued its positive growth trajectory by growing by 1.92%. This is higher than the previous quarter when it grew by 1.40%. And higher still from the 2nd Quarter, when it grew by 0.72%.

    “The numbers clearly show that the economy has fully exited recession. Council members were particularly pleased to note that this growth is very broad based with Agriculture growing at 4.23% up from 3.06% in the 3rd Quarter. Other sectors such as Transportation and storage, Electricity and gas production, Metal Ores, and Industry all grew, particularly noteworthy were the growth recorded in Trade (2.07% and Services (o.10%) after six quarters of negative growth.

    “Council members were also happy to note that overall the non-oil sector grew by 1.45%, it’s strongest since 2015. Inflation is also trending downwards moving down from 18.72% in January 2017 to 15.13% in January 2018. Council members were also happy to see the increasing private sector confidence in the ERGP, and other policies and programmes of the Buhari administration, as evidenced by the increasing capital inflows.

    “Capital inflows in 2017 were US$12,228 million, a growth of 138.6% over the total inflow in 2016 of US$5,124 million. This has been a factor in the build-up of our foreign reserves which have grown from US$23.81 billion in September 2016 to almost US$42 billion.

    “Council members however agreed that whilst these positive results are most encouraging, particularly in the light of where we were in the last few years, the current growth rate is still rather modest and we have to continue to work even harder to achieve the goals of the ERGP of diversifying the economy and achieving our growth targets of 3.5% this year, and 7% by 2020.

    “And, of course one of the ways we are intensifying implementation of the ERGP are the ERGP focus labs which will be launched next week Tuesday, 13th March, by Mr President,” he stated.

    Usani Uguru, said the Council approved the design of section five of East – West Road meant to link Oron in Akwa Ibom to Calabar in Cross River State.

    Read Also:AIB releases preliminary reports involving DANA, Delta , Nestor Oil aircraft

  • FG seeks private sector investment from UK

    FG seeks private sector investment from UK

    The Federal Government on Thursday said it would work with government of the United Kingdom to stimulate more direct private sector investments into Nigeria.

    The Minister of Budget and National Planning, Sen. Udoma Udo Udoma said this in Abuja during a meeting with a delegation from the British government led by the Secretary of State for International Development, Mrs Priti Patel.

    He told the delegation that Federal Government was intensifying efforts at ensuring the ease of doing business in the country and would welcome more foreign investments.

    Patel and her team are in Nigeria to have an on-the-spot appraisal of the situation in the North East of the country to enable the British Government to decide on how to assist the Nigerian government in addressing the situation in the region, as well as other development initiatives.

    Acknowledging the various interventions by the British Government in aid of the country’s developmental challenges, the minister said although Nigeria would appreciate more foreign aid from the British Government, it would be looking more in the area of investments from companies in that country coming into Nigeria.

    He explained government’s efforts toward ensuring the ease of doing business and particularly mentioned the creation of industrial hubs in the six geo-political zones of the country that would have the basic facilities required for manufacturing to thrive smoothly.

    The British government, he said, could help in encouraging manufacturers in the United Kingdom to outsource some of their productions to Nigeria and take advantage of the special economic zones.

    The minister said that the Federal Government was committed to creating a successful economy, pointing out that the Economic Recovery and Growth Plan launched early this year was meant to serve as vehicle to drive government’s diversification policy.

    Udoma said Federal Government had constituted an Inter-ministerial Task Force under the chairmanship of the Minister of State for Budget and National Planning to properly handle and coordinate humanitarian assistance efforts to the North East.

    This, he noted, was to ensure proper delivery and effective utilisation of funds and materials.

    In her comments, Patel assured that the British Government would continue to assist Nigeria in addressing its humanitarian and developmental challenges.

    She said her team would discuss further with the Federal Government to look at more proactive ways of dealing with the fallouts of the North East crisis.

    She added that more work would be done in the areas of investment in education, international partnerships, capacity building, scaling up of farming in local communities among, other development issues.

     

  • 2017 Budget: FG to release N350bn in first tranche

    2017 Budget: FG to release N350bn in first tranche

    In conformity with plans for targeted release of funds under the 2017 national budget, the Federal Government is about to release N350 billion to Ministries, Department and Agencies ( MDAs) for towards execution of capital projects under the 2017 budget, Minister of Finance, Mrs. Kemi Adeosun has said.

    Speaking during an interactive session that preceded the official  public presentation of 2017 Appropriation Act organized by the  Budget Office and Ministry of Budget and National Planning in Abuja on Monday, Adeosun stated that after a scheduled cash-plan meeting, the Federal Government is to release the N350 billion and funds for other key projects and initiatives.

    At the event where the Minister of Budget and National Planning, Senator Udoma Udo Udoma gave details of the national budget, the Minister of Interior, Abdulrahaman Danbazzau   later told newsmen of plans to form a special squad that would tackle the challenges posed by herdsmen.

    Giving details of plans for the implementation of this year’s national budget, Senator Udoma stated that targeted funding of projects would be done with the Project-Based Release System in order to curb waste of public funds by MDAs while evidence of compliance with the Bureau of Public Procurement Act is now part of compulsory requirements before approval of any capital release.

    Also, all MDAs have been prohibited from unilateral endorsement of any foreign currency denominated contract without the approval of the Ministers of Finance and that of Budget and National Planning.

    Udoma who said that the 2017 budget would run from this month to  June next year also stated that the Federal Government would strengthen its monitoring and evaluation framework to improve physical inspection and impact assessment of projects and programmes implemented by MDAs .

    However, consultations are being made between the executive and the National Assembly towards going back to the January to December implementation of budgets with effect from next year’s budget.

    The 2017 budget has an expenditure outlay of N7.44 trillion, representing an increase of 22.8% over the 2016 budget provision of N6.06 trillion.

    Statutory transfers make up N434.41 billion ,  debt service of N1.66 trillion; sinking fund to retire certain maturing bonds is N177.46 billion.

     

    Also, non-debt recurrent expenditure is to take N2.99 trillion while capital expenditure, inclusive of statutory transfers has N2.36 trillion.

    The budget’s overall projected budget fiscal deficit is N2.36 trillion, which is about 2.18% of GDP – a point which the Minister described as being well within the 3%  stipulated threshold.

    The budget includes recurrent non-debt expenditure of N2.99 trillion made up of: Personnel costs – N1.88 trillion (63%) overhead – N219.84 billion (7%), services wide vote pensions – N89.98 billion (3%) Consolidated Revenue Fund Pensions – N191.63 billion (6%).

    According to Udoma, the 2017 budget will be financed “mainly by borrowings which have been projected at N2.32 trillion. Of this amount, N1.07 trillion (46% of this borrowing) is intended to be sourced externally, while N1.25 trillion will be sourced domestically. The debt service to revenue ratio is projected to be about 32.7% in financial year 2017” .

    “In terms of implementation of the budget, we are making strenuous efforts to find the resources required. We are challenging our revenue generating agencies, particularly the FIRS and Customs, to improve their efficiencies and broaden their reach so as to achieve the targets set for them in the 2017 budget”.

    “Most importantly, we will strive to maximize the revenues we can generate from the oil and gas sector as it is clear that the foreign exchange generated from the sector is critical for our plans to diversify to the non- oil sectors. While we are introducing creative measures to improve on the efficiencies in that sector to increase Government’s take, we are also engaging more extensively with the communities and people of the Niger Delta to minimize disruptions to oil production”.

    “We are also working on the ERGP Implementation Plan (ERGP-IP) which will  guide the implementation  of the 2017 budget as well as other budgets over the medium term. It is my expectation that as we remain strategic and bold in our implementation process we will achieve the objectives set out in the ERGP”, Udoma stated.

    He also emphasized Federal Government’s concerns over the prevalence of abandoned Federal projects all over the country, adding that government hopes to tackle this through the strengthening of its monitoring and evaluation· framework· to improve· physical inspection· and impact· assessment· of projects and programmes implemented by MDAs .

    “We are worried and concerned about the number· of abandoned capital· projects scattered in their thousands throughout the country, which we inherited from previous administrations.

    “We know· that you can’t continue· doing things the same way· and expect· different result, so we have to do things differently.

    “We need to have· more targeted releases; we have to look at the projects which are important and can easily be completed.

     

    “The ministers are working together to ensure· that over time, we concentrate our resources on completing important projects, so that we have maximum impact,, ’’ he said .

    Officials at the public presentation of the 2017 Appropriation Act include the  Minister of Interior Abdulrahaman Danbazzau, Minister of State for Budget and National Planning Mrs. Zainab Ahmed, Director General, Budget ,Mr.Ben Akabueze ; Minister of Foreign Affairs  , Geoffrey  Onyeama and the Minister of Health, Dr.Isaac Adewole.

    Meanwhile, the Minister of Interior, Abdulrahaman Danbazzau   explained that the 3, 000 strong special squad being constituted to address the menace of herdsmen would comprise personnel from the National Security and Civil  Defence (NSCDC).

    Dambazau stated that the special unit is to be saddled with the task of protecting the public against herdsmen attack.

    He said the idea of having such important unit was mooted some months ago stating that, about 3,000 NSCD personnel had been selected to undergo special training.

    He also expressed his conviction that many of the herdsmen threatening the peace and order within the country are from other countries, especially within the ECOWAS sub-region.

    According to Dambazau, Nigeria and other countries that are signatories to the ECOWAS protocol which guarantees free movement of citizens have a responsibility to find ways to monitor the movement and activities of itinerant herdsmen.

     

  • FG returns Nigeria to January/December fiscal year

    FG returns Nigeria to January/December fiscal year

    The Federal Government on Tuesday started a move to return the country back to a predictable January to December fiscal year with the early preparation of the 2018 budget proposals.

    The Minister of Budget and National Planning, Sen Udoma Udo Udoma said this in a statement signed by his Media Adviser, James Akpandem in Abuja.

    Udoma said that the ministry held an event, tagged: “Flag of the 2018 Budget Preparation Process’’ to inform the relevant Ministries Departments and Agencies (MDAs) on the processes and procedures of the budget preparation.

    The event came up less than 24 hours after Acting President Yemi Osinbajo signed the 2017 Appropriation Bill into law.

    At the event, Osinbajo said“ going forward, we have agreed with the National Assembly leadership on the necessity to get Nigeria back onto a predictable January to December fiscal year.

    “To achieve this, the 2018 budget needs to get to the National Assembly no later than early October so that the National Assembly can conclude work on it before the end of the year.”

    The Acting President emphasised on the need for direct involvement of Ministers, Permanent Secretaries and heads of government agencies in the preparation of their respective establishments’ budgets.

    “Ministers and Permanent Secretaries are to take responsibility to ensure that as much as possible their 2017 Budget is implemented between now and December.

    “They are also to be personally involved in the process for the preparation of the 2018 Budget to ensure that we meet the deadline for submitting it to the National Assembly by early October 2017,” he said.

    In addition, Osinbajo said that they must fast-track the implementation of the 2017 Budget to make up for the lost time and to deliver on expectations.

    He observed that Personnel Costs had continued to be a source of budgetary pressure, urging the MDAs to collaborate with the relevant authorities to ensure that only legitimate employees are on the payroll.

    He told them to collaborate with the Ministry of Budget and National Planning as well as the Ministry of Finance, in their efforts to ensure full implementation of the IPPIS.

    The Acting President also tasked the top government functionaries to pay serious attention to the revenue side of the budget as the country needed to improve on revenue generation to fund of the budget.

    Speaking further, Udoma reminded the officials that the 2018 Personnel Budget Call Circular had been issued to them since April.

    The minister said work had already commenced on the 2018-2020 Medium Term Expenditure Framework /Fiscal Strategy Paper (MTEF/FSP).

    He said the Fiscal Responsibility Act (FRA) 2007 prescribes certain deadlines for Budget related activities, which government must endeavour to comply with.

    These objectives, he said, were particularly important for a government which had changed as its agenda.

    “Delayed national budgets are generally considered as indicative of poor public financial management which is not good for the image of the Government.’’

    Udoma, however, said that the 2018 budget would be the first full-year budget following the finalisation of the Economic Recovery and Growth Plan (ERGP).

    “It became imperative that the budget was fully aligned with the objectives and priorities of the ERGP.

    “The 2018 budget process is, therefore, being harmonised with the Implementation Roadmap for the ERGP,’’ he said.

    The event was aimed at sensitising all top government functionaries and other stakeholders on the ERGP Implementation Roadmap and critical guidelines for the preparation of the 2018 budget to ensure its alignment with the ERGP.

    Meanwhile, Udoma will present the breakdown of the 2017 Budget to the general public on Monday, June 19 at the Ministry of Foreign Affairs headquarters in Abuja at 10:00a.m.

  • Buhari absent again in FEC meeting

    Buhari absent again in FEC meeting

    Vice President Yemi Osinbajo on Wednesday presided over the Federal Executive Council (FEC) meeting at the State House Abuja.

    Wednesday’s meeting started around 11.a.m. few minutes after he arrived the Council Chamber.

    It was is the third time Osinbajo will be presiding over FEC meeting since President Muhammadu Buhari returned from medical vacation in the United Kingdom on the 10th of March.

    As part of reasons why Buhari did not attend last Wednesday meeting, the Minister of Information, Lai Mohammed, had told reporters last Wednesday that Buhari was resting and working at home.

    Unlike last week, many Ministers were in attendance during opening session of the meeting. The Chief of Staff to the President, Abba Kyari, was also in attendance.

    The Minister of the Federal Capital Territory, Mohammed Bello and the Minister of Budget and National Planning, Udoma Udo Udoma, offered the Muslim and Christian prayers, respectively.