The Acting President, Yemi Osinbajo, has finally bowed to the pressure by Senate President, Bukola Saraki-led Senate, on the need to ensure that Government Agencies and Ministries submit their yearly budget proposals to the National Assembly, as at when due.
Recall, that the Senate had on Wednesday, directed Osinbajo to ensure the submission of the budgets of 31 government establishments, including the Nigerian National Petroleum Corporation, NNPC, and the Nigerian Ports Authority, NPA.
The Acting President, reacted immediately after the Senate demanded offices comply with the relevant fiscal law within two weeks.
Osinbajo responded on Friday, with an Executive order, warning relevant offices of “appropriate sanctions”, if they fail to comply henceforth.
Read the full text of the Executive order:
1. All Agencies, whether or not listed in the Fiscal Responsibility Act, shall, on or before the end May every year, cause to be prepared and submitted to the Minister of Finance and the Minister of Budget and National Planning their schedule of revenue and expenditure estimates for the next three financial years.
2. All Agencies shall, on or before the end of July every year, cause to be prepared and submitted to the Minister of Finance and the Minister of Budget and National Planning their annual budget estimates, which shall be derived from the estimates of revenue and expenditure as projected in their three-year schedule.
3. A joint committee of the Ministries of Finance, and the Budget and National Planning shall review such estimates and ensure their conformity with the national plan and the financial and budgetary regulations before processing them for approval and early transmission to the National Assembly.
Like Us on Facebook!
Do You Need a Sugar Mummy, Sugar Daddy, Girlfriend, Boyfriend Wife or Husband? If Yes, Then Click Here For Details
0 comments:
Post a Comment