Abuja — THE National Assembly, yesterday, suppressed agitation against executive non-implementation of the 2012 budget and passed the 2013 budget of the Federal Government, albeit with a N63 billion increase to the N4.924 trillion proposal submitted by President Goodluck Jonathan.
The passage nonetheless, the battle line with the executive remained with the zero allocation accorded the Securities and Exchange Commission, SEC, upon reservations of the administration's failure to adopt its resolution demanding the dismissal of SEC's Director-General, Ms. Arunma Oteh.
In passing the budget, the National Assembly adopted $79 as the benchmark for crude oil price, though it adopted the executive proposal of crude oil production of 2.53 million barrels per day and an exchange rate of N160 to a US dollar. President Jonathan in his proposal had requested crude oil price to be fixed at $75 per barrel.
The passage of the budget by the two Houses, Vanguard learnt last night, was upon serious lobbying by the executive and the last minute moderation by some legislators especially in the House of Representatives who had mobilized to truncate the earlier promise of delivering the budget before year's end.
Deputy President of the Senate, Senator Ike Ekweremadu, who presided in the Senate and the Deputy Speaker of the House, Chief Emeka Ihedioha who chaired the House, in their separate remarks, however, brought the angst of the legislators to the fore as they lamented the poor implementation of the 2012 budget.
Remarkably, the National Assembly extended the time frame for the implementation of the capital side of the 2012 budget until April 2013.
Emodi's intervention
The decision by the members to pass the budget, it was learnt, followed serious consideration of the pleas of the Special Adviser to the President on National Assembly Matters, Senator Joy Emodi who many of the legislators considered in toning down their opposition. Senator Emodi was at the head of executive trouble shooting missions to the two Houses during the consideration of the budget.
The reservations of the legislators nonetheless, the Peoples Democratic Party, PDP, yesterday hailed the lawmakers for the speedy consideration of the budget, saying it was a loud commentary on the maturity of the leadership of the two houses.
An enthused Emodi also said it was a bold declaration of the inspired leadership in the two houses and maturity of members of the National Assembly.
"By the early passage of this budget, the Executive and the Legislature have indeed made a joint statement that they are truly partners in governance and are increasingly taking steps to place Nigeria on a path of economic growth and prosperity," Senator Emodi told newsmen in the National Assembly, yesterday.
In the 2013 budget, N387,976,000,000 was set for statutory transfers while N591,764,000,000 went for debt service just as N2,386,024,770,349 was earmarked for recurrent (non-debt) expenditure while the balance of N1,621,477,655,252 was left for capital expenditure.
Under the capital expenditure, Works got the lion share with N168,173,800,000, followed by Water Resources that was allocated N84,228,166,366 while Power got N73,159,378,866.
Senate uncovers fictitious projects
In the report submitted to the Senate by the Senate Joint Committee on Appropriation and Finance on the 2013 Appropriation Bill, the committee noted the presence of fictitious projects.
"If the painful sight of abandoned projects in Nigeria will be a thing of the past, then on-going projects must be properly defined.
"A situation where projects not found in 2011 and 2012 budgets are found in 2013 as on-going projects is very misleading. In the same vein, a situation where uncompleted projects are not included in the budget of succeeding years is wasteful."
Warns against slow, non full implementation
The Senate also observed that "the Auditor-General who serves as a check to government accounts within and outside the country is left with meagre amount that can barely sustain his office."
It regretted that conceptualisation of the budget by the executive was still a problem that it must face, adding: "Conceptualisation of the budget by the executive is still a big issue that we must confront as the representatives of the people. There should be veritable template for budgeting especially on capital projects. If the painful sight of abandoned projects in Nigeria will be a thing of the past, then on-going projects must be properly defined."
Extends 2012 budget to April
The same proposals were adopted by the House of Representatives following the earlier harmonization by the appropriation committees of the two chambers.
The House in its report decided to roll over unspent capital funds till April next year and decided not to approve funds for SEC under the leadership of Ms Oteh.
"Notwithstanding the provisions of section 19 of the Finance (Control and Management) Act, 2004 or section 1 (I) and (iii) of the 2012 Appropriation Act or any other finance law for the time being in force, all unutilized, unexecuted and unimplemented capital expenditure component of the 2012 Appropriation Act shall be rolled over and shall be construed to form part of the 2013 Appropriation Act, provided that the unutilised capital expenditure component of 2012 Budget shall lapse on the 12th day of April 2013."
Cuts off funds for SEC
Ruling out funding for SEC upon its misgivings on the executive's failure to heed its resolution on the sack of Oteh, the House report read: "All revenue to SEC, however described including all fees received, fines, grants, budgetary provisions and all internally and externally generated revenue shall not be spent by the Securities and Exchange Commission for recurrent or capital purposes or for any other matter, nor liabilities therein incurred except with prior appropriation and approval by the National Assembly."
However, Communication adviser to SEC, Mr. Obi Adindu, last night said the capital market regulatory body would not comment on the development.
The deputy speaker of the House, who presided over the session explained that the decision of the chamber to brush away perceived frictions with the executive and pass the budget was in line with the promise given by the House that it would pass the budget before the end of December.
In line with the submissions of the Deputy Speaker, House spokesman, Hon Zakari Mohammed noted that though the House had some reservations about the budget, it had to pass it in fulfillment of its promise and in the general interest of the masses.
Meanwhile, the Senate following a motion by Senate leader, Senator Victor Ndoma- Egba, adjourned sittings to January 16, 2013.
Emodi hails quick passage
Hailing the passage of the budget yesterday, the Special Adviser to the President on National Assembly Matters said the quick passage was a pivotal moment in the history of the nation.
Speaking with journalists yesterday, Senator Emodi noted that the development was a confirmation that all is well between the National Assembly and the Executive, adding: "This development is a confirmation of my position that harmonious working relationship exists between both arms of government and has put paid to speculations that there is rift in their relationship."
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This is just another breach of the rule of moral duty with intent to bring in another set of new billionaires to the boys and girls in the looting rampage. What can you expect in a nation where every one is lucked up in the church while leaders are feeding frenzy into the people's blood . Who'll pay for these relentless and unholly Borrowings ? This incompetent regime ought to take example from current economic debate in the U.S government to learn how not to get the nation into deeper debts so the future of our developement objectives can be archieved. The nation is owed more than the sum being borrowed out side, what effort, I mean real and not illusionary effort is being made to bring culprits into accountability ? Ofcourse there are effective mechanism to make these overnight billionaires regogitate the loots if there have been honest resolve to do so.The total borrowing is beyond what is shown to the Nigerian tax payers if you sum up what we owe by adding what was not used to complete the 2012 budget expense where we've learnt that just meagre 15 % of the whooping billions allocated for infrastructural expense was actually expended.Go tell them this in China or any other emerging economy on the planet and see what you'll get, whole sale death panalty to at least two third of such worthless regime ! What are we paying the huge government and do nothing political leaders for if we have to be this indepted by mortgaging the nation's future to every country and religious organization that have less than what our God given oil wells produce every day ? . He who goes aborrowing , goes asorrowing they say. Jonathan and his team have become enstranged at prudent economic management the more he become aware of the leadership future that await them at the next national polls and therefore taken to filling the endless looting apetite of his political patners at the nations expense by getting us deeper into unpredictable dark future with relentless borrowings to run the nation in the same way with the same individuals . Obama's resolve to rain in on America's escallating debts dont seem to worth his attention or to emulate as long as he can hang on thin rope before the excit of his incompetent admistration which is too obvious unless we're bunch of demented citizens . I dont know of any reasonable people on the planet that can stand this regime anywhere with clueless and insensitive idea of what has been dogging his own nation and the citizens . We have a whooping growth in new billionaires and Private jetin the nation , yet we have some of the most devastated population and infrastructural decay along with expensive government than any other nation on per capita on the planet. What is the duty of the economic guru's dumped in the world's most expensive hotels in the past donkey years at the nation's exepense with unproductive advice to their employer, or politicians? We also operate the worst economic strategy eqivalent to the stoic historical social and political arrangement . How can we operate ecomomy of free market on one hand , while we put one man in charge of importation and distributrion of essential commodity to our population of 170 million citizens ? Never heard of in modern economy. These are the reasons for endless corruption and growth of billionaires with no added tricle down effect in the national economic cycle, it seem to me to be also the justfication for endless disrespect for authority in the government.