Emmanuel Aziken
18 November 2008
The 2009 budget expected to be presented tomorrow by President Umaru Yar'Adua will not be ready for implementation by next January, the Senate has said.
The inability to implement the 2009 budget from the beginning of the year would be a major set back for President Umaru Yar'Adua's promise of fiscal discipline as reflected in practical implementation of budget.
Senate spokesman Senator Ayogu Eze who gave an indication of the inability of the National Assembly to process the 2009 budgetary proposals before the end of the year put the blame on the administration's failure to keep up with its promise of regular pre-budget consultations.
President Yar'Adua had in a letter to the President of the Senate received yesterday given his readiness to lay the 2009 budget estimates before a joint session of the National Assembly tomorrow. However, despite that letter there were still speculations yesterday that the presentation may yet be delayed. A presidential aide contacted on the issue could not confirm tomorrow's date.
While noting the readiness of the National Assembly to process the budgetary estimates, Senate spokesman Senator Eze, however, regretted that the regular consultations promised ahead of the budget presentation had been mostly observed in the breach.
A consultative meeting between the Minister of Finance, Dr. Samshudeen Usman and Senators scheduled in the National Assembly yesterday did not hold. It was about the third meeting to be put off on account of the inability of the Finance Minister to show up at the briefings Vanguard learnt yesterday.
Senators who turned up for another scheduled briefing yesterday went away disappointed as the meeting was again rescheduled for today.
"If all the consultations were done it could have been optimistic but I can tell you that those consultations were not done," Senator Eze, himself also a member of the Senate Committee on Appropriation told Vanguard yesterday evening.
"Two weeks ago before we went on retreat, the pre-budget briefing that was scheduled did not hold and the one that was scheduled for today again did not hold, so I don't see how that can be done because Senators and members of the House of Representatives are supposed to have their imprint in the budget."
The 2009 budgetary proposals are expected to contain measures for rejuvenating the country's infrastructure base and enhancing security in six key cities notably Abuja, Kano, Lagos, Port-Harcourt, Ibadan and Onitsha.
The proposal is expected to devote at least N684 billion to strategic investments in key infrastructure including power and transportation with the realization of at least 6,000 MW of electricity.
Director-General of the Budget Office, Dr. Bright Okogu who outlined the proposals in a paper at last week's Senate retreat disclosed that the power sector is to receive N365 billion in various power generation and transmission projects across the country.
Other key spending plans in the strategic investment proposal include:- Petroleum resources - N193 billion investments in various gas pipeline projects that support the power initiative.
-Works - N105 billion investments on various highways rehabilitation and construction including the construction of the second Niger Bridge.
-Transport - N21 billion investment in rail lines, modernization of locomotives, rehabilitation of tracks, cranes, and other railway equipment.
Be the first to Write a Comment!
Copyright © 2008 Vanguard. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.
AllAfrica aggregates and indexes content from over 125 African news organizations, plus more than 200 other sources, who are responsible for their own reporting and views. Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica.
