Saraki inaugurates Budget Review Committee

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Saraki inaugurates Budget Review Committee

President of the Senate, Dr Bukola Saraki, on Monday inaugurated a Reform Committee to fashion out how Nigeria’s yearly budgets would be implemented.
In his speech, Saraki state?d that over the years, the budget processes were marred with several irregularities, leading to inadequate implementation.

He noted that the Committee was formed to chart a new course for effective implementation of future budgets.

“One of our major functions is the passage of the annual budget. Over the years, the National Assembly and the executive have expressed dissatisfaction over implementation of budget.

“Following the last budget exercise and in line with our legislative agenda, we are taking a decision to review the budget processes and see how best we can improve on it.

“This is not new but the only difference this time is that we hope we will be able to complete it.”

“In the past we have not been able to review our budget processes. It is my belief that the 8thNational Assembly will make this happen.

“It is a fact that annual budgets are yet to be fully aligned with our development goals, from conceptualization, approval to implementation.

“ There is a need to continue to reform our budget for continuity and efficiency, hence the need to revisit the process,’’ he said.

Saraki said that government operations were less susceptible to corruption and abuse when predictable, transparent and accountable.

He further urged the committee to come up with a Budget Bill that would create a road map for timely passage and implementation, among other things.

“It is expected that the committee would work within the time frame to come up with a budget bill that will close the structural and procedural gaps and will lead to transparency.

“A bill that will find efficient timelines for the entire budget process and to enable the National Assembly to adequately interrogate the budget bills before passage,’’ he said.

Responding, the Chairman of the committee, Sen. Ali Ndume, assured that the committee would work within the time frame to come up with a budget bill that would address all the concerns raised by Senate President.