NASS Plans Better Budget Process

The National Assembly has moved to ensure an easier and faster process budget process. This is after the Technical Committee on Budget Reforms submitted a report to make amendments where necessary.

Senate Leader, Ali Ndume presented the report to Senate president, Bukola Saraki yesterday.

The report recommended that annual budget be presented in the first week of September. Also, it proffers that the budget be considered within two months and passed on the  Nov. 30 at the latest.

Report To repeal 58-year Old Law

Ndume said the report would improve on the inconsistencies inherent in the budgeting system. He also expressed the need to repeal and re-enact the 1958 Act to check the anomalies in relation to the fiscal year.

Part of the report included enlarging the list of stakeholders to be consulted during the budget preparation process. It further suggests pre-budget consultation between the National Assembly, the executive and the public.

Also, the committee recommended a fixed and realistic budget calendar and a pre-budget statement.

It further recommended the strengthening of legislative oversight function in order to minimise the negative perception of the public on oversight performance.

In his remark, Saraki said that the report would be useful in preparing and considering the 2017 budget.

He said that all the aspects of the act recommended for review were in dire need of renewal.

He pledged the commitment of the National Assembly to be more transparent in budget processes.

Senate Constitute Budget Process Committee

Meanwhile, the senate president has constituted the budget committee. The committee is to produce a Budget Reform strategy paper and draft Budget Reform Bill.

The reform will improve budget formulation, enactment, implementation, monitoring, evaluation and budget performance.

 

Minister of Budget and National Planning, Udoma Udo Udoma, also gave a remark on the process. He posits that the success of any budget depended on the collaborations between the Executive and the Legislature.

The Minister gave the assurance that elements of the proposed reforms would be immediately implemented.

Udoma also called for more collaboration between the Executive and the Legislature as the consideration of the Medium Term Expenditure Framework begins.

The Senate is now expected to sponsor a bill seeking to amend the Act in line with the recommendations in the report.