Editorial
FG, Senate And Budget Execution
Over the years, one major challenge which has militated against human capital and infrastructural development of Nigeria has been either poor or non-implementation of our national budget.
Despite shortfalls in oil benchmark projections, which are largely determined by international market forces and which also constitute substantial percentage of budget estimates, the legislative and executive arms of government have been passing the buck and blaming each other, through the past decade over who should be held responsible for poor implementation of successive Appropriation Acts.
Just last week, Minister of Finance, Mrs. Kemi Adeosun and her Budget and National Planning counterpart, Senator Udoma Udo Udoma were summoned to brief the Upper Chamber on what the Senators considered as poor implementation of the 2017 Appropriation Act.
The Senate, at a plenary session, scored the executive arm low on the implementation of this year’s national budget, especially for what it called the inadequate releases for capital component of the 2017 Budget.
The Upper Chamber which frowned at the ugly development, stressed the need for expeditious release of funds in order to stimulate the nation’s economy.
Against the backdrop that we are already in the last quarter of 2017, The Tide thinks that the managers of the nation’s economy, particularly the Ministers of Finance and Budget and National Planning owe the citizenry some explanations on why funds are not released for critical capital projects that would fast-track the economy, which going by statistics reeled out by the National Bureau on Statistics (NBS) recently has exited from recession.
From all indications, Nigeria has over the last three quaters maintained a stable production in oil and gas. Moreso, oil prices have been stable in the last two quarters while the country has maintained stability in her production quota and also exceeded oil price benchmark for the 2017 budget.
So, there can be no justification for non-release of funds or poor execution of the Appropriation Act. The only reason that can be adduced for that is avoidable bureaucratic bottlenecks.
The budget of any nation worth its salt must be taken seriously by all arms and levels of government. The budget is a critical instrument of government for national development. It is, indeed, the template for socio-economic and political advancement of the country.
A situation where the legislative and the executive arms engage in war of words or passing the buck is most unfortunate, worrisome and unacceptable. It had been either late passage of the Appropriation Bill or late assent to the bill or poor execution of the budget over the past few years.
Nigerians expect that our political leaders should strive to make sufficient sacrifice to national development and the budget and of course, provide the framework and platform for regional and national development.
While we solicit early submission of the Appropriation Bill to the National Assembly, we expect our parliamentarians to be more committed to their oversight functions rather than budget padding which the executive has often accused them of perpetrating.
However, we commend the Senate for calling the executive to order despite party affiliation and expect the APC-led Federal Government to do the needful by ensuring that the 2017 Appropriation Act is implemented to its fullest.
As the President Muhammadu Buhari-led administration enters the third half of his tenure, Nigerians expect his regime to fulfill all his electioneering promises before the terminal date of his tenure in May 29, 2019.
Editorial
For A Prosperous 2026
Editorial
Task Before New Defence Minister
Editorial
HYPREP And The Collapsed Water Tank
