NASS Proposes New Budget Calendar
The National Assembly has called for the adoption of a July to December budget calendar for the nation.
This was announced in a statement signed yesterday by the Media Office of the President of the Senate. The technical committee led by Senator Ali-Ndume had submitted its report on reforming the budget process in Nigeria.
According to the report, 15 key reform strategies have been developed. The budget calendar will begin with the submission of the Medium Term Expenditure Framework (MTEF) in mid-July. The Appropriation Bill will be signed into law by third week of December every year.
Also, the strategies include provision of laws on development plans by the Federal Government. These are aimed at easy and timely preparation of the budget and its efficient implementation.
According to the statement. these measures are contained in the report submitted to the Senate President, Bukola Saraki.
The report proposed a budget calendar that will ensure that the President assents to the appropriations law by third week of December while the Medium Term Expenditure Framework (MTEF) is submitted in the second week of July as the first step in the budget process.