Business
Capital Projects Get N31bn Virement
The House of Representatives last Wednesday approved N31billion virement for12 Ministries, Department and Agencies (MDAs) as against the N98 billion proposed by the Executive.
It also approved the extension period for the implementation of the 2011 budget to March, 31, 2012 for capital projects.
Our correspondent recalls that on Sept. 27, President Goodluck Jonathan requested the House to approve a virement of N98 billion in the 2011 budget of some Ministries, Departments and Agencies MDA.
The MDAs are FCTA, Ministry of Agriculture, Ministry of Lands, Housing and Urban Development, Aviation , Justice, Police Formations and Command.
Others are, Minsitry of Niger Delta, Public Complaints Commission, Ministry of Defence/Army, National Sports Commission, Ministry of Education and Ministry of Health.
Virement is an exercise that involves moving funds allocated from one sub-head to another where they are supposedly more needed.
It would be recalled that, the House on Oct. 13, referred the matter to its relevant committees for scrutiny. This resolution was sequel to the report of the House committee on Appropriation which was unanimously adopted. Leading the debate, Rep. John Enoh (PDP-Cross River), the Chairman of the Committee, said that the request for virement by the executive was in line with the Appropriation Act.
He explained that the committee included some agencies omitted in the covering letter forwarded to the House by President Jonathan. According to him, the committee generally accepted the request under capital projects.
He said that it would be necessary to extend the implementation period for the 2011 budget. “We are of the opinion that for effective implementation of the capital components of the 2011 Appropriation Act, it may please this Hallowed chamber to authourise the extension of capital budget implementation to the 31 of March,’’ he said. He said that the committee rejected the virement proposal on the 2011 recurrent budget as requested by the executive.
Rep. Leo Ogor (PDP-Delta), Deputy Majority Leader, noted that approving the virement without extending the implementation period of the budget would be worthless.
Rep. Samson Osagie (ACN-Edo), the Minority Whip noted that the practice of extension of budget implementation period was not provided for by any law, but done by necessity.
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