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Nasarawa: Gov Sule Presents Revised 2020 Budget Of N62.96bn To Assembly For Approval
By Abel Leonard/lafia
Engr. . Abdullahi Sule has presented a revised 2020 budget of N62.96billion only to the state house of assembly for consideration and approval due to the effects of coronavirus on the economy.
Rt. Hon Ibrahim Balarabe Abdullahi, the Speaker of the House announced this after Hon Tanko Tunga (APC-Awe North), the Majority Leader of the House read the governor’s letter during the House Proceedings in Lafia today.
Balarabe Abdullahi, who said that the revised budget tagged”Budget of Inclusive Development” was necessary as Coronavirus pandemic has affected the socio-economic activities of the state and the world at large.
According to the speaker, in furtherance of it support to Engineer Abdullahi Sule’s administration to succeed, the House has expeditiously passed the 2020 appropriation amendment bill of the sum of 62.96billion naira into first and second reading respectively.
The speaker said, “A bill for a law to amend the Nasarawa State 2020 appropriation bill of N62,968,348, 139.00 only for the services of Nasarawa State has scaled first and second reading at the House.” The accelerated passage was due to the importance of the budget to the development of the state as a result of COVID-19 pandemic ravaging the world.” The recurrent expenditure is N31,943,912,285.00.billion only while the Capital expenditure is N26,465,632,374.00 billion only and the consolidated revenue fund charges is N4,558,803,479.00 billion,only” he said.
He however committed the revised budget to the House Committee on Finance and Appropriation for its necessary action and to report back to the House on Wednesday, July 22nd.Earlier.
Hon Tanko Tunga, the Majority Leader of the House while presenting the governor’s message, urged his colleagues to give the budget an accelerated passage in the interest of development.
Hon Danladi Jatau (PDP-Kokona West), the Minority Leader seconded the motion.Hon Mohammed Okpoku (APC-Udege/Loko) and Hon Suleiman Yakubu(APC-Awe South) while contributing on the issue said that the revised budget is timely considering the effects of COVID-19 in the society.
It will be recalled that the governor had on Dec. 4, 2019.presented a 2020 bugdet proposal of N100.52 billion to the Assembly for consideration and approval, tagged as “Budget of Inclusive Development”, said that it is anchored on his administration’s policy of transparency, accountability.
The state assembly subsequently passed the appropriation bill into law on Dec. 23, 2019 after raising it from N100.5 billion to N108.4 billion.
July 21, 2020
BREAKING: Buhari Signs Revised 2020 Budget Into Law
President Muhammadu Buhari has signed into law, the revised budget of N10.8 trillion for the year 2020.
He assented to the budget at about 11:06am on Friday at the Council Chambers of the Presidential Villa in Abuja, the nation’s capital.
In his address, the President explained that the budget had to be revised because of the effect of the coronavirus (COVID-19) pandemic on the nation’s economy.
He disclosed that Ministries, Department, and Agencies (MDAs) of the government would be given at least 50 per cent of their capital allocation by the end of July.
According to President Buhari, the timing of the signing of the budget was to keep with the January to December budget cycle.
The Senior Special Assistant (SSA) to the President on National Assembly Matters (Senate), Senator Babajide Omoworare, and the SSA to the President on National Assembly Matters (House of Representatives), Umar Yakub, presented the budget to him at about 11:03am.
President Buhari was joined at the signing ceremony by the Vice President, Professor Yemi Osinbajo, as well as the Senate President, Ahmed Lawan, and Speaker of the House of Representatives, Femi Gbajabiamila.
Others in attendance included the Chief of Staff to the President, Professor Ibrahim Gambari, and the Secretary to the Government of the Federation (SGF), Boss Mustapha.
The Minister of Finance, Budget and National Planning, Zainab Ahmed; Minister of State (Finance), Clement Agba; Governor of the Central Bank of Nigeria (CBN), Godwin Emiefile; and Director-General of the Budget Office, Ben Akabueze, were also at the Council Chamber to witness the signing of the revised budget.
Details later…
July 10, 2020
Senate passes N10.8trn revised 2020 budget
The Senate on Thursday passed the revised 2020 budget of N10.8 trillion, the exact amount approved by the House of Representatives on Wednesday.
The budget was passed at both the Senate plenary and at the Committee of Supplies following the consideration of the report of the Senator Barau Jibri-led Committee on Appropriation, Daybreak reports.
The Senate increased the budget size of N10.5 trillion presented to it by the executive by about N300 billion.
The sum of N500 billion was passed in the budget as an intervention fund for COVID-19, while N186 billion was earmarked for the health sector.
The sum of N422 billion was for statutory transfers and N4.9trillion for recurrent expenditure.
Capital expenditure gulped N2.4 trillion while N2.9 trillion was earmarked for debt servicing.
Details later…
June 11, 2020
Reps reads the riot act to MDA’s on tampering with 2020 Budget
The House of Representatives has enjoined Ministries, Department and Agencies (MDAs) of the federal government to desist from tampering with the 2020 budget.
The Chairman of the House Committee on Appropriation, Mr Muktar Aliyu Betara issued the warning in a statement in Abuja following the submission of the revised 2020 budget proposal by President Muhammadu Buhari.
The House noted that no MDA has powers to tinker with the budget as only the National Assembly is statutorily empowered to review, adjust, consider and pass the budget.
The statement reads “there were reports that following the downward review of the budget from N10.59 trillion to N10.52 trillion due to the COVID-19 crisis and the dwindling oil prices, some MDA’s were already adjusting the budget proposal to suit their needs.
“Such acts will not be condoned by the National Assembly as any MDA or official found to be engaged in such illegal practices will be made to face the music”.
“I want to warn that no other arm or department of government has any power over budget except the legislature, which is the National Assembly. It is only the National Assembly that can review the budget and we have begun the process.
“I would like to refresh the memory of those erring MDAs or officers of the Executive that sections 80- 84 of the 1999 constitution (as amended) confers appropriation powers on the parliament as well as its responsibilities over the national purse. So, nobody should engage any unlawful act concerning the budget”
The stressed that both the 1999 Constitution and Fiscal Responsibility Act, 2007 provide for no limitations on the National Assembly’s power to amend the Appropriations bill.
According to the Appropriation Committee Chairman, “Section 80 (4) specifically provided that ‘no money shall be withdrawn from the Consolidated Revenue Fund or any other public fund of the Federation, except in the manner prescribed by the National Assembly’, therefore, we shall not shirk in our responsibilities and we will also not hesitate to wield the big stick on whoever goes beyond his brief to tamper with the budget”
Betara informed that because of the importance the National Assembly attached to the budget, members of the relevant committees will continue work on it during the two-week Sallah break, stressing that “the break will not in any way affect our consideration of the budget because it is critical to the survival of our nation at this trying period”
He assured that the House of Representatives Committee on Appropriation is committed to working with other relevant committees, the Senate and Executive to have workable and implementable budget to help the country overcome the negative economic effects of COVID-19.
“We hope to finish work on the budget in record time so that its implementation will still remain within the January -December budget cycle”, he stated.
May 22, 2020
2020 Budget: Senate approves Buhari’ s request for N850bn loan
The Senate has approved President Muhammadu Buhari’s request for N850 billion loan from the Capital Market to finance projects in the 2020 budget.
The senate at plenary on Tuesday, gave accelerated approval to the request for the loan.
It further mandated its Committees on Finance and Appropriation to liaise with the Minister of Finance, Mrs Zainab Ahmad for details of the loan.
Buhari has sought the approval of the Senate for the N850 billion loan to finance the 2020 budget.
The request was conveyed in a letter addressed to President of Senate, Dr Ahmad Lawan and read at plenary.
Earlier, Lawan in a welcome address said the resumption of plenary was aimed at sustaining solutions to the coronavirus pandemic and ensure that it does not create more problems in the country.
He said the COVID-19 pandemic has affected the 2020 budget noting that the senate was working with the executive to address the problem.
“Government has responded well under the recommendations of scientists and experts.
“Our sessions have been interrupted, but we have sustained our interventions and collaborations with other arms and agencies of government to mitigate the damage from the pandemic.
”We will continue in our efforts in the interest of our good health, the well-being of our people and the sustainable development of our nation.This pandemic has killed thousands of citizens across the world.
” We have also lost many of our dear compatriots, one of them was the Chief of Staff to the President of the Federal Republic of Nigeria, Malam Abb Kyari.
“We condole with President Muhammadu Buhari on this painful lost, just as we mourn other citizens who have died because of the disease.We pray the Almighty Allah will give their families the fortitude to bear the loss and grant them Aljanah Firdausi.
“Let me commend your collective and individual efforts in supporting the people in these uncertain times. Your counsels and gifts during this period are well documented,” he said.
April 28, 2020
Coronavirus: FG slashes 2020 budget
The Federal Government has sent a revised budget to the National Assembly, cutting down some costs in view of the coronavirus pandemic in Nigeria.
A top source in the National Assembly shared a copy of the revised 2020 budget on Wednesday, noting that a meeting was ongoing between the leadership of the National Assembly and the Minister of Finance, Zainab Ahmed, and the Group Managing Director of the Nigerian National Petroleum Corporation.
Parts of the documents showed that there is a 20 per cent cut on capital projects across ministries, departments and agencies to the tune of N312,820,542,675.
Details later…
April 8, 2020
COVID-19: FG reduces 2020 budget by N1.5trn, suspends recruitment, reviews Social Investment Programmes
The Federal Executive Council (FEC) on Wednesday approved reduction in the size of the 2020 budget by about N1.5 trillion, as part of measures to address the impacts of Coronavirus disease on Nigerian economy.
The Minister of Finance, Budget and National Planning, Hajiya Zainab Ahmed, made this known when she addressed State House correspondents on the outcome of the Council meeting, presided over by President Muhammadu Buhari, in Abuja.
She said the proposed budget cut of N1.5trillion, which must be approved by the National Assembly would include N457 billion from Premium Motor Spirit (PMS) under-recovery.
The minister said: “From the expenditure side, the President has approved that we should cut down the capital expenditure budgeted by 20 per cent across Ministries, Departments and Agencies.
“Also, a 25 per cent cut of all government owned enterprises and these include the ones that are in the national budget, the 10 top ones we included in the 2020 budget but also those we did not include in the 2020 budget.
“So, all of these would have their recurrent expenditure and capital expenditure cut down by 25 per cent.
“By these measures we expect that the operating surpluses that would accrue to the federation will increase because when their operational expenditure reduces the operating surpluses that they remit to the treasury will also increase significantly.
“What we have done is that we have written every ministry and given them guidelines on how these adjustments will be made to enable us have detailed inputs from the ministries.
“But I can just say that the bulk cut is about N1.5 trillion, the reduction in the size of the budget. And this includes N457 billion from PMS under-recovery.’’
According to the minister, other policy matter that had been discussed for implementation is for the administration to stop recruitment except for essential services such as security and health services.
She said the Council also agreed to restore and compliant by the civil service retirement regulations, while the modalities for the implementation of the Social Investment Programme would also be reviewed.
Ahmed also disclosed that the Council agreed to review the non-essential tax rebate currently being implemented to cut down on tax expenditure so as to generate more revenue.
She, however, revealed that the Council approved that recruitment into the civil service should be suspended but the current federal government workforce would be maintained.
“On recruitment, there is already an instruction to stop recruitment. What the agencies have been doing is replacement but even that is being suspended.
“When things improve we will go back to the issue of recruitment but for now, our wage bill is already very high.
“The president has directed that salaries and pensions must be paid unfailingly, so we are not looking at downsizing in anyway.
“We are maintaining our workforce as it is but we are just stopping the increase in the size of the nominal roll.
On benchmark, the minister said: “We are working on the worst case scenario of 30 dollars per barrel and also we are holding to the production numbers of 2.18 million barrels per day.
“This you will remember is approved by the National Assembly. This is our own analysis and we will start engaging the National Assembly.’’
The Minister of State for Transportation, Mrs Gbemisola Saraki, also told the correspondents that the Council approved N2billion revised cost for the completion of an inland river port in Lokoja, Kogi .
She said: “The Ministry of Transportation presented a memo to council for approval of revised estimate total cost for the completion of the construction of an inland river port in Jemata-Akpanya, Lokoja, Kogi State.
“This project actually started eight years ago, and was supposed to have been completed within a year and half, but unfortunately due to some complications, and owing to the fact that the location had been encumbered, the project stalled and is now been revived.”
According to her, the total sum for the project now stands at N6.4 billion.(NAN)
March 19, 2020
FG should have pegged 2020 budget on $35pb, says expert
An oil and gas expert, Mr Wilson Opuwei, says the Federal Government should have benchmarked the 2020 budget not higher than $35 per barrel (pb) to mitigate the impact of oil price fluctuation at the international market.
Opuwei, who is the Chief Executive Officer of Dateline Energy Services Ltd., made the suggestion on Tuesday in an interview with the News Agency of Nigeria (NAN) in Lagos.
The government had budgeted N10.59 trillion for 2020 expenditure with calculated revenue projected at $57 per barrel and crude production of 2.18 million barrels per day.
However, the impact on global trade by the Coronavirus and the ongoing oil production dispute between Russia and Saudi Arabia have seen oil price dropped to $31 per barrel at the international market.
Opuwei said the decision of the Federal Government to review the 2020 budget based on the decline in oil revenue was inevitable as crude oil sales was the major source of foreign exchange for the country.
He said: “The worry for Nigeria is as a result of the budget benchmark.
“Some of us complained at that time that the $57 was too much because it is a benchmark and should not be at par with the pricing at the market.
“The projection for the benchmark should leave a 15 to 20 per cent window on the projected pricing.
“So the budget benchmark should have been between $30 to $35, irrespective of what the oil price is at the market. This will help to balance out any price fluctuation like what we are seeing now.”
Opuwei said there was no need to panic because the situation was only temporary and was not strange to the oil and gas sector.
“The fall in the price of crude is just a temporary thing and it will come up again. This is one of the challenges being faced by the sector but it is just a small setback.
“Hopefully before the next quarter, the price will come back to between $60 and $65 per barrel but it will have to climb gradually,” he said.
According to him, Nigeria should use this opportunity to explore participation in the parallel market apart from meeting the Organisation of Petroleum Exporting Countries (OPEC) quota.
Opuwei said: “We will still remain under OPEC but that does not stop us from trading in the parallel market.
“If there is an aggressive production by our oil producers, we will exceed what OPEC approved for us to be bringing and that is why we should keep an eye on the alternative market.” (NAN)
March 10, 2020
Reps approve 2020 FCT, NCS budgets
The House of Representatives on Friday approved the 2020 budgets of the Federal Capital Territory (FCT) at ₦278.35 billion and the Nigeria Customs Service (NCS) at ₦238.14 billion.
The house approved the budgets after considering the reports of the committees on Federal Capital Territory and Federal Capital Territory Area Councils and Ancillary Matters, and Customs and Excise during plenary.
The session was presided over by the Deputy Speaker of the House, Mr Idris Wase.
Rep. Abdullahi Garba, Chairman, Committee on Federal Capital Territory and Federal Capital Territory Area Councils and Ancillary Matters presented the committee’s report for consideration.
Garba said: “the house do consider the Report of the Committees on Federal Capital Territory and Federal Capital Territory Area Councils and Ancillary Matters on a Bill for an Act to authorize the issue from the Federal Capital Territory Administration Statutory Revenue fund of the Federal Capital Territory Administration Account, the total sum of ₦278,355,365,947
“Of which the sum of ₦55,878,241,095 is for Personnel Costs and the sum of ₦62,343,723,435 is for overhead costs; while the balance of ₦160,133,401,417 is for capital projects for the service of the Federal Capital Territory, Abuja for the year ending on Dec. 31, 2020.”
Also, the Chairman, Committee on Customs and Excise, Rep. Yuguda Kila presented the report on the issue from the Statutory Revenue Fund of the NCS of ₦238,149,325,832.70 for consideration.
Laying the report, Kila said: “the house do consider the Report of the Committee on Customs and Excise on the issue from the Statutory Revenue Fund of the Nigerian Customs Service, the total sum of ₦238,149,325,832.70.
“Of which the sum of ₦98,606,217,521.96 is for personnel cost; ₦15, 952, 305, 336 .72 is for overhead cost; while ₦123, 590, 802, 974. 40 is for capital projects for the year ending on Dec. 31, 2020 and approve the recommendation therein.
“That in tandem with the Medium Term Expenditure Framework approved by the National Assembly, the projected revenue for the year 2020 Budget of ₦238,149,325,832.70 only needs to be approved for the Nigeria Customs Service.”
The deputy speaker said that the house would transmit the approvals to the president for assent.
The house also adjourned its sessions till Jan. 28, 2020.(NAN)
December 21, 2019