Although restoration of the budget cycle to January to December would be more predictable for businesses and investors in the Nigerian economy, the Presidency, however, noted that it would not determine its performance to impact on Nigerians.
This view contradicted the position of the President of the Senate, Ahmed Lawan, who had repeatedly said returning the budget cycle to January to December would engender optimal performance.
Senior Special assistants to the President on National Assembly matters for the Senate, Babajide Omaworare and Honourable Umar El-Yakub (House of Representatives) said this, on Wednesday, while addressing the media.
They maintained that the nation deserved to expand her revenue sources to be able to find her budget and commended the National Assembly for its quick passage of the Deep Off-shore Productions Sharing Contract (PSC) which will enable the nation meets its financial obligations.
El-Yakub stated that: “I like to agree with you that it is not the cycle that will make the budget work. But obviously it is ensuring that there is timely releases and timely execution of projects which a January December budget cycle provides.
ALSO READ:Â Bill prohibiting sexual harassment in tertiary institutions scales second reading in Senate
“I have also mentioned the fact that part of the revenue that was drawn that goes into this budget and the finance has captured some of the revenues that we expect. I like to differ with you on the fact that capital budget are being released. Mr President gave directive that N600billion be released so as to make the 40 per cent implementation of the capital budget.
“The Minister of Finance has disbursed this money and he is disbursing this money. The budget will work because it affords us proper planning.
“I am sure you know that infrastructure projects have suffered before because of the fact that budgets are signed towards the middle of the year and it is raining season and therefore they can’t even access the funds because the work cannot be done on major roads, bridges and even power projects,” the presidential aide stated.
The Presidential aides also said that there is no misunderstanding between the President and his vice president, Prof. Yemi Osinbajo who has been in the media recently for the many onslaughts against his office in the Presidency.
Media reports indicated that over 30 aides of the Vice President have been sacked. This is coming few weeks after the reported relocation of the aides of the Vice President to operate in offices outside Presidential villa.
The Presidential aide, Omoworare, stressed that the President has the liberty to work from anywhere in the world what is important was for him to function in his office in accordance with his mandate.
and then