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Dogara Urges Buhari To Sign Budget Presentation Bill
Speaker of the House of Representatives, Hon Yakubu Dogara has urged President Muhammadu Buhari to assent to the Constitutional Amendment Bill which provides for Appropriation Bill submission to National Assembly in September.
Dogara made the call in his remarks at the resumption of plenary, yesterday, after a three-week recess by the National Assembly.
He said that as the bill had not been signed, “any talk of an orderly appropriation process will be mere cheap talk’’.
The amendment bill stipulates that the President shall prepare and lay before each House of the National Assembly, estimates of revenue and expenditure 90 days before the end of the fiscal year.
The bill was transmitted to the President along with other constitutional amendment bills, some of which he has assented to.
“It is as a result of this that the National Assembly proposed an amendment to the section to require the President to submit the Appropriation Bill not later than 90 days to the end of the financial year.
“The President has not yet signed this bill which is so critical to an orderly appropriation process.
“Let me use this opportunity to remind the President of the fact that if this bill doesn’t become law, any talk of an orderly appropriation process will be mere cheap talk.
“It is important to reiterate once again that the National Assembly has the constitutional powers, duty and responsibility to intervene in the budgeting process to ensure equity and federal character.
“It also entails even distribution of projects and amenities as direct representatives of the people,’’ Dogara said.
He added that it was important to emphasise that the 2018 budget benefitted from active cooperation and consultation between the executive and legislature during the appropriation process.
“No doubt, Nigeria’s budgeting processes are in need of further reforms.
“That is why the National Assembly took the bold initiative to introduce the budget process bill that is expected to lay out timelines that will guide the appropriation process from conception to passage.
“But, for this bill to be passed, section (81) subsection (1) which gives the President power to prepare and lay before the National Assembly estimates of revenue and expenditure in the financial year, must be amended,” he said.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.