Skip to main content

Budget minister seeks NASS support for economic recovery

Sen. Udoma Udo Udoma, Minister of Budget and National Planning.

Sen. Udoma Udo Udoma, Minister of Budget and National Planning.

The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, has solicited the support of National Assembly for budget initiatives to bring the economy out of recession.

Udoma made the call when he delivered a keynote address at the Gallery Colloquium on“ Budget as a Critical Tool for Effective Executive-Legislative Relations,” on Monday in Abuja.

Udoma was represented by Mr Kayode Obasa, Director, Economic Growth Department, in the ministry.

He said that the executive had a plan to get the economy out of recession and put it back on the path of sustainable growth.

“This plan involves injecting a fiscal stimulus to provide funding for the 2016 Budget which, as we all know, had been carefully designed to reflate the economy.

“The budget was designed to reflate the economy but has, unfortunately, been affected by the revenue shortfalls.

“Thereafter, it is important to stay the course in implementing the major structural changes which had been outlined by the government in our Strategic Implementation Plan (SIP).

“The spending priorities in the 2017 Budget will be guided by the objectives we set out in the SIP,’’ he said.

The minister said that the executive needed the support of the National Assembly to drive through the initiatives which were mainly budget-related.

He said that the situation would provide a unique opportunity for the executive and the National Assembly to work together, seamlessly, in strong collaboration.

“It will provide opportunity to work in strong collaboration to demonstrate that we can succeed in getting alignment on the budget so that we succeed in turning the Nigerian economy around.

“And in this way, we will be setting a precedent for succeeding governments, as to how national interest can be placed ahead of institutional contests.’’

Udoma emphasised the need for the executive and the National Assembly to work together in the national interest to ensure that Nigerians got the best possible budget.

“ The executive and the National Assembly will benefit politically from a budget that successfully turns the Nigerian economy around and brings prosperity to our people.

“We must all remember that, if we fail, no side, whether the Executive or the National Assembly, can completely escape the blame.’’

He said that the collaboration was important to prepare a 2017 budget that would provide the needed impetus to take the economy out of recession.

“Success in producing a good 2017 budget will require strong collaboration between the Executive and the National Assembly.

“In order to achieve this, there must be mutual understanding and ownership of national objectives and priorities.

“For instance, we should all agree that at this time of recession we need to ensure prudent allocation of resources to key capital projects.

“Also, all the key stakeholders must understand and appreciate the overall budgetary constraints as well as implications of some fiscal trade-offs,’’ he said.

In addition, he said that the Executive and the Legislature had different roles in the budget production process and these roles should complement one another.

“The National Assembly must not see itself as in competition with the Executive,’’ Udoma said.

The News Agency of Nigeria (NAN) reports that Gallery is an annual colloquium convened by ORDERPAPER.NG to mark its anniversary in September every year.

It is conceived as a signature programme of the multi-media company and a platform that brings various stakeholders of democratic project together to brainstorm and proffer solutions on legislative and democratic issues

Labels:

Comments

Post a Comment

Popular posts from this blog

Houthis Claim Attack on Central Israel in Response to Gaza ‘Massacres’

The ongoing conflict between Israel and Hamas has taken a concerning regional turn as the Houthi rebels in Yemen claimed responsibility for an attack on central Israel. The group announced this as part of their escalating response to what they describe as "massacres" in Gaza amid the Israeli military’s operations in the strip. Details of the Attack The Houthis, a Shiite militant group with ties to Iran, declared that they launched missile and drone strikes targeting Israel. While the exact impact of these attacks remains unclear, reports suggest that Israel’s defense systems intercepted several threats over its airspace. This marks a significant escalation as the Houthis widen their involvement in the conflict beyond their typical operations within Yemen and neighboring Saudi Arabia. The Houthis’ Justification In their statement, the Houthis framed the attack as retaliation for Israel’s military actions in Gaza, which they characterized as indiscriminate bombings resultin...
Post a Comment
Read more

Fire: UniJos Senate convenes emergency meeting on Monday

Fire at the University of Jos Library University of Jos is to convene an emergency senate meeting on Monday to review the level of damage done to the institution by the Saturday night inferno. The Vice Chancellor, Prof. Sebastian Maimako, disclosed this on Sunday after inspecting areas affected by the incident. The fire, which lasted for more than six hours, destroyed the Library Complex that equally houses the faculties of management and social sciences. The fire also destroyed examination scripts, books and very crucial materials. Consequently, the vice-chancellor said “the Senate will meet tomorrow (Monday) to take a decision about the unmarked examination scripts that were burnt.” On the cause of the inferno, Maimako said investigation had commenced, adding that “nothing has been confirmed yet. We are still investigating.” The vice chancellor said the school was already working with federal authorities toward establishing a main fire station since the mini fire station in t...
Post a Comment
Read more

NDLEA arrests 252 suspects, seizes 3,073 kg Indian hemp

NDLEA operatives The NDLEA in Niger on Monday said that it had arrested 252 suspects and seized 3,073.9 kilogramme of Indian hemp(cannabis sativa) in the state. The NDLEA Commander in the state, Mr Joseph Iweajunwa, who disclosed this in Minna, said that the operations were carried out between January and September. “Our operations in Niger State from January to September 2016 led to the arrest of 252 suspects and seizure of 3,073.997 kilogramme of cannabis sativa,’’ he said. Iweajunwa said that within the period, the agency also seized 1, 530 litres of liquid drugs, especially cough syrup with codeine. He said the NDLEA also counselled and rehabilitated 90 drug addicts in the state within the period under review. The agency, he added, secured convictions of only nine of the suspects because the judge at the Federal High Court, Minna, went on leave. “ Now that the judge has resumed more suspects will be tried,’’ he said. He advised motorists, especially commercial vehicle dri...
Post a Comment
Read more