Ben Agande
15 April 2008
Lagos — AFTER several months of disagreement between the executive and the legislative arms of government on the 2008 Appropriation Bill, President Umaru Yar'Adua, yesterday, signed the Bill into law with a charge to all government agencies to implement it with "the highest sense of responsibility and with total deference to due process."
The total amount budgeted for the 2008 fiscal year is N2.748 trillion, comprising N860 billion for capital and N1.888 trillion for recurrent.
Although the signing ceremony was billed for 10 o'clock in the morning, it was not until 3:00 p.m that it finally took place following what a source described as the state of the president's health. Reporters were not allowed to witness the event as has been the tradition.
The President was billed to depart for Wiesbaden, Germany yesterday for a check-up.
Mr. Segun Adeniyi, his Special Adviser on Communications who confirmed the president's ill health to State House correspondents said he (president) was due to be flown out to a German hospital "for a medical review of an indisposition believed to be due to an allergic reaction."
The presidential spokesman said yesterday's ceremony was witnessed by Vice President Goodluck Jonathan; the President of the Senate, Chief David Mark; and the Deputy Speaker of the House of Representatives, Mr Usman Bayero Nafada, amongst others.
He quoted the president as pledging to "ensure that actual results, commensurate with the resources provided, are achieved with the 2008 budget, the main thrust of which, he said, is to deliver on the administration's promise of poverty alleviation and pursue its seven-point agenda."
Amendment to be forwarded to Nat'l Assembly
Speaking with State House correspondents after the budget was signed into law, the Minister of State for Finance, Mr Remi Babalola, said an amendment would be forwarded to the National Assembly to address the areas of concern in the budget that delayed the president's assent.
Some of the areas to be fine-tuned, he said, are "new projects that have been added to the budget.
"We both agreed on how to go about it. Some of those projects will be taken out as a reflection of the amendment bill that will come and subsequently, there will also be a supplementary budget.
The projects that the executive considers to be in line with our focus and also that it has been well costed and which fits into the overall fiscal regime will be included in the supplementary budget," he said.
The minister explained that the delay that characterised the signing of the budget was because some of the inclusions in the budget by the National Assembly could not be accommodated by the economy.
"If you recall, the history of the budget started on November 8, 2007 when Mr. President presented N2.45 trillion budget with N636 billion as capital expenditure and N1.187 trillion as recurrent expenditure.
On February 12, 2008, the National Assembly passed a bill of N2.898 trillion which Mr. President considered a little bit too large for our fiscal regime and in consideration of that, on March 13, 2008, the National Assembly returned an Appropriation Bill of N2.748 trillion to Mr. President with a breakdown of N860 billion as capital expenditure and N1.888 trillion as recurrent expenditure. That is the bill that has just been signed into law this afternoon.
"However, based on some of the areas, we agreed that there is the need for us to fine-tune and refine: there will be an amendment bill to be sent to the National Assembly in the next few days. There will also be a supplementary budget where projects that the executive considers vital would be included," he said.
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