Business
Reps Commitee To Compile 2012 Budget Report
The House of Representatives on
Tuesday mandated the Joint Committee on Finance and Appropriation to compile a
comprehensive report on revenues, expenditures and unforeseen savings in the
2012 budget.
The report, according to the lawmakers, is aimed at
ensuring the full implementation of the budget.
The committee is expected to submit the report to the
House within one week.
The resolution to that effect emanated from a motion
moved by Rep. Abdulrahman Terab (ANPP-Borno) which was unanimously adopted.
Leading the debate, Terab noted that annual budgets were
meant to provide for the planning and equitable allocation of resources for
purposes of development.
Terab said that the national budget, if well formulated
and effectively implemented, would lead to the achievement of development
objectives of the country.
The lawmaker disclosed that Nigeria had infrastructural
deficit of over N4 trillion and a very high unemployment rate of over 70 per
cent.
He said that the revenue receipts so far for 2012 was
higher than what was projected for in the 2012 fiscal regime.
Terab also described the fourth quarter capital releases
to Ministries, Departments and Agencies (MDAs) in December as inadequate.
He claimed that only about 30 per cent of money
appropriated was actually remitted to the MDAs.
He said that money saved from recoveries, non oil,
unspent revenues and fake subsidy claims were not captured in the 2013 budget
estimates.
“If this House does not come to the rescue of the 2012
budget, the dream of Nigeria becoming one of the 20 great economies by the year
2020 can no longer be achievable,” he said.
Rep. Abdulmumin Jibrin (PDP-Kano), the Chairman,
Committee on Finance, said that out of the 60 revenue generating agencies of
government, only one remitted up to 50 percent to the Federation Account.
Jibrin called on relevant committees of the House to
investigate the role of the Bureau of Public Procurement (BPP) in the area of
budgeting. He told the House that 15 agencies were absent from the meeting with
the committee.
The chairman, Committee on Appropriation, Rep. John Enoh
(PDP-Cross River), urged the House to ensure a conclusive implementation of the
2012 budget.
Enoh noted that unless the House was careful, the budget
would witness more abandoned projects than the previous years.
“Given the problem that characterised the 2012 budget,
we need to examine the 2013 budget, “ he said.
Business
NPA Assures On Staff Welfare
Business
ANLCA Chieftain Emerges FELCBA’s VP
Business
NSC, Police Boost Partnership On Port Enforcement
-
News5 days ago
WDD: Tinubu Seeks Global Action On Drug Abuse
-
Featured4 days ago
Tinubu Signs Four Tax Reform Bills Into Law …Says Nigeria Open For Business
-
Sports5 days ago
RSG Advises Rivers Angels, Players, Mgt To Work As A Team …Tasks Them To Win The Final
-
Nation5 days ago
FG Restates Commitment To Seafarers’ Welfare, Safety
-
Rivers5 days ago
Students Praise Old Boys/Girls 83 Set Over African Child Day Celebration
-
Featured4 days ago
Senate Issues 10-Day Ultimatum As NNPCL Dodges ?210trn Audit Hearing
-
News5 days ago
Tinubu Rejects NDLEA Bill Over Crime Proceeds Clause
-
News4 days ago
Shettima In Ethiopia For State Visit