Chizzy Manuel
The Budget Office of the Federation has said that the 2020 budget assumptions especially the revenue targets are realistic.
The Director-General of the office, Ben Akabueze, who gave the assurance, also hailed the National Assembly for insisting on early submission of the budget, saying though it was tough preparing the 2020-2022 Medium Term Expenditure Framework (MTEF) and the 2020 appropriation; it was good for the country to return to the January-December budget cycle. Akabueze spoke in Lagos while presenting the 2019 Annual Public Lecture of the Chartered Institute of Personnel Management of Nigeria (CIPMN) with the theme, “Effective Budget Execution and Management: Recipe for National Development.”
The DG however stated that revenue shortfall is one of the challenges militating against effective budget implementation.
He noted that revenue deviated from projection by 48 per cent in 2017, 45 per cent in 2018 and 42 per cent in half year 2019. Represented by his Technical Adviser, Prof. Olumide Ayodele, Akabueze said the 2020 revenue target is achievable, insisting that Nigeria has revenue potentials and personnel must work hard to surpass the target.
Buhari had on October 8 presented 10.33tr 2020 budget to the National Assembly. A
“A Director signed an agreement and you look at it yourself, was this man sleeping? We have things like this in different Ministries.
“If we are talking of national development, then we must look at ways that we can generate money. The targets that we have here are realistic.
“The National Assembly is considering these revenue targets and I am sure by the time they are through with it, they will increase the targets so that the MDAs concerned can be able to deliver,” Akabueze said.
According to him, with the cooperation that currently exists between the two arms of government, the budget might be passed by next week.
“And it would be a budget that will have little or no issue,” he added.
President and Chairman of Council of CIPM, Mr. Wale Adediran, said if the nation implements the formulation of procedures for effective budgetary controls, then greater future would be assured.
In another development, the Chairman, House of Representatives Committee on Public Accounts, Mr. Wole Oke, (PDP-Osun), has commended Mr Adeniyi Adebayo, Minister of Industry, Trade and Investment.
Oke gave the commendation a committee roundtable on Friday in Abuja, saying that Adebayo’s disposition to work with the parliament is for the overall development of the country.
He said that the commendation was necessary because the minister did not only respond to invitation letter sent to him, but also made efforts to appear before the committee in person.
According to the lawmaker, some ministers do not bother to come by giving excuses on why they would not appear before the parliament committee.
“Chief Accounting Officers of various ministries are required to appear before the public account committee, if and when required”.
According to him, the country belongs to everybody, irrespective of whatever platform or background.
He said that there must be synergy between the arms to ensure Nigeria progress for the benefit of all.
Adebayo thanked members of the committee for welcoming him and for their willingness to work with the ministry to develop the economy.
The minister promised to ensure a seamless working relationship between the ministry and the National Assembly.