JUST IN: 2020 budget scales second reading in Senate
By Makuochukwu Emmanuel
7 months ago
- Top Stories
The 2020 Appropriation Bill, submitted to the National Assembly last week by President Muhammadu Buhari, on Tuesday, scaled second reading on the floor of the Senate.
The upper chamber has subsequently, adjourned plenary till 29th November, 2019, to enable Ministries, Departments and Agencies (MDAs) of government defend their respective budget proposals before the Committees of the Senate.
In his concluding remark during the last day of debate on the 2020 budget estimates, the Senate President, Ahmad Lawan, identified revenue generation as a major challenge of the budget.
OVER 5,000 NIGERIAN MEN HAVE OVERCOME POOR BEDROOM PERFORMANCE SYNDROME DUE TO THIS BRILLIANT DISCOVERY
According to a statement from Ezrel Tabiowo, Special Assistant (Press) to the Senate President, he said successful implementation of the budget may be difficult to realise until proactive measures are taken to address the situation.
He said: “We are seriously challenged in the area of generating revenues, and it appears that until something drastic is done, this shortage of revenue will continue to militate against the implementation of the budget.
“We have to continuously engage the revenue generating agencies and schedule quarterly evaluation to be handled by our relevant committee, particularly the Senate Committee on Finance.
“We need to look at how we can enhance the capital allocation. The shortage of funds will militate against that.
“We have serious challenge when only thirty per cent is devoted to capital budget; but that is an improvement from what we inherited from 2014 when the allocation was fifteen per cent. But that is not to say we cannot do better.”
On recurrent expenditure, he said “We have so many agencies of government, over six hundred of them and we have to pay.
“Probably, we need to look at how we can streamline the agencies; that is not to say that we will lay off workers, but we must establish the functionality and usefulness of these agencies.
“We also need to look at the direction of Public Private Partnership, especially in the laying of physical infrastructure. We can concession our roads, instead of taking money from China.[NewsNaira]
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