The National Assembly at its plenary session on Wednesday, January 25, 2017continued debate on the 2017 Appropriation Bill. The debate, which commenced on Tuesday, January 24, 2017, continues to highlight concerns from lawmakers in both chambers.
Speaking in the Senate, Sen. Biodun Olujimi (PDP: Ekiti) raised concerns over the inadequacy of provisions pertaining to youth and women empowerment. According to her, the Executive’s 2017 Budget proposal failed to explicitly state its plans for the welfare of Women and Youth. Sen. John Enoh (PDP: Cross River) criticized some of the key assumptions stated in the budget as “unrealistic” in achieving the Federal Government’s objective of pulling Nigeria out of the current recession. He also raised concerns about the borrowing plan of the Federal Government to fund its budget deficit advising that the Federal Government explore other funding mechanism by focusing on cost reduction. In addition to this, Sen. Dino Melaye (APC: Kogi), expressed dismay over the Federal Government’s borrowing plan in the 2017 budget and explained that its proposed projections to fund its capital expenditure with borrowed monies would not facilitate development. Sen. Melaye also urged the Federal Government to develop an agenda that could be articulated and aligned with the objectives of the 2017 Budget.
Other contributions included that of Sen. Gbenga Ashafa (APC: Lagos) who advised the Senate to learn from the mistakes of the 2016 Budget, which was inadequately funded. He recommended for the judicious use of funds in the 2017 Budget for important and critical projects. Sen. Emmanuel Bwacha (PDP: Taraba) however commended the Federal Government on its 2016 Budget performance but suggested stated that the funds allocated to Agriculture should be increased since Agriculture had been identified as one of the major ways of revenue generation. Sen. Adeola Olamilekan (APC: Lagos) also called on the Senate to ensure that the National Budget and Research Office (NABRO) Bill is signed into law to provide ample opportunity to make budgetary decisions that would be the foundation for fact and evidenced-based data and information with regard to the budget performance of Ministries, Department and Agencies (MDAs). He was also of the view that the Senate’s upward recommendation of an oil benchmark price of $44. 5 per barrel from $42.5 per barrel would change the reported revenue proposed in the budget.
Similarly, the House of Representatives debate on the Budget was centered on the Federal Government’s proposed exchange rate of N305/$ which was largely perceived as unattainable. The House intends to conclude debate on the 2017 Budget at its next plenary which falls on Thursday, January 26, 2017.
