Home Nigerian news Presidency explains why presentation of 2019 budget is delayed – Local

Presidency explains why presentation of 2019 budget is delayed – Local

The presidency has explained why the submission of the 2019 appropriation bill to the National Assembly has been delayed, adding that it was almost ready.

Senior Special Assistant to the President on National Assembly Matters, Senator Ita Enang, said it would first be required of the executive arm of government to check the overall performance of the 2018 budget approved before presenting that of 2019.

Enang added that taking a proper account of the implementation of 2018 budget would guide the government to project for next year’s budget.

“In presenting the 2019 budget, we would have to take account of the level of  implementation of the 2018 budget, so we would know what we are going to project for next year’s budget.

“If the money you seek to realise to fund this year’s budget came a little bit behind the time you expected, you are expected to take care of a few of these things so that you know what to project for next year,” he said.

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He stated this in Abuja on Wednesday, November 22, while speaking to journalists.

Read his statement below:

“We are not having a high turnover of rejected bills but we have a high number of considered bills. We have passed over 100 bills in the 8th Senate.

When President Muhammadu Buhari assented to the 2018 budget, he had reservations but after having understanding with the legislature, he sent in amendments and asked for virement. That is still being awaited, it has not been done.

The budget is almost ready. The President has transmitted to the National Assembly request for the approval of the MTEF and the approval of the Fiscal Strategy Paper.

“It is the MTEF that sets out the budget parameters for the benchmark of oil, the exchange rate, the money projected to realise from solid minerals, internal revenue from oil, and borrowings.

It is this that enables you to deal with budget projections. That document is pending before the legislature.

“Ordinarily, we should present it but we just felt that the legislature should first pass the MTEF/FSP so that we can use it as benchmark but since the legislature is still working on the document, we are going to use the parameters that were used in what we submitted as the budget benchmark of oil, exchange rate, the amount we are going to have as excess crude and other sources of revenue as submitted to prepare the budget.”

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