There are strong indications that the Federal Government's 2017 Budget proposal is almost ready and will soon land on the floor of the National Assembly (NASS), comprising the Senate and House of Representatives. As an annual ritual practised by every functional democracy around the world, the Presidency (Executive arm) usually articulates its intended capital and recurrent expenditures for an impending fiscal year, with the expected sources of funds to executive such proposed projects and programmes properly defined in a concise manner, before presenting same to the NASS which is the Legislative arm of government, exercising the exclusive constitutional duty of reviewing, altering and approving the appropriation bill before it becomes a working document after due assent by the President.
As prescribed by the Nigerian Constitution, the NASS exercises the exclusive responsibility of looking into the budgetary proposals by the Executive arm of government with a view to ensuring an equitable allocation of resources to every sector of the economy, purposely to ensure equitable distribution of available resources to achieve maximum benefits for the betterment of the nation and improved welfare of the entire citizenry.
Therefore, the anticipation, curiosity and high expectations of Nigerians at this critical point every successive fiscal year, cannot be over-emphasised for obvious reasons. First, it is through the budget proposals that every segment and sector of the country's economy will catch a glimpse of the quantity or percentage of the national cake to expect during the year. Secondly, the budget offers the citizenry an ample opportunity to assess and appreciate the degree of foresight, vision, commitment, altruistic disposition and depth of understanding of the pressing needs and requirements of the populace in the process of administration of the affairs of the polity.
Feelers from the Presidency indicate that the 2017 Appropriation Bill will be in the region of N7 trillion, a little bit more than the N6 trillion for the ensuing fiscal year. Plus and minus, there is likelihood that the final amount to be approved by the NASS will hover around that figure. By and large, considering the bloated, consumer-oriented and import-based nature of the nation's economy, such a budgetary outlay will definitely impact quite minimally to an already distressed and battered economy like ours, which desperately requires rejuvenation and backward integration.
As a leeway out, concerted efforts must be made to ensure that more resources are allocate to the critical sectors of the economy which will have value added benefits, such as mechanized agriculture, industrialization, mining and exploration of vast solid mineral deposits under the Nigerian soil, which will consequently create job opportunities. Provision of soft single digit interest loans for macro and micro enterprises to boos local production of essential commodities, coupled with the provision of basic amenities, like regular power and potable water, access roads, security and ensure proper and efficient budget implementation for better results.
Suffice it to say that majority of Nigerians expect the FG to quickly redress and turn around or urgently reverse the prevailing ugly economic situation, in order to nip the astronomically rising cost of living now biting harder and harder on the masses. To say the least, the rapidly worsening negative trends that had befallen the nation, have only elicited serial 'sweet' promises of good tidings to come by the FG, but without visible and tangible results so far, to give any glimmer of hope of recovery for the people and the nation's economy milked dry by successive administrations.
As a leading crude oil producing country, there is no justification for Nigerian to continue the importation of refined petroleum products for domestic consumption which are presently sold to hapless Nigerians at outrageously cut-throat prices. Kerosene (DPK), being the petroleum product used by the common man, presently sells at N200 per litre (or more) in most filling stations around the country. It is no longer news that the nation's refineries at Port-Harcourt, Warri and Kaduna have continued limping and wobbling, as they often go out of operation for obvious reasons obsolete technology and lack of maintenance.
With benefit of hindsight of the antecedents and attitude of NASS members towards matters concerning budget and budgeting, especially the hullabaloo and horse trading associated with the previous budgets, including the extant 2016 FG budget, controversially bugged by wild allegations and counter-accusations of alleged 'padding', orchestrated by the displaced former chairman of the Appropriation Committee of the House of Representatives, Hon. Usman Jubrin, who blew the whistle of so-called 'budget padding' against Speaker Yakubu Dogara and some members of the Green Chamber. The dust raised by the said 2016 budget 'padding' saga is yet to settle and here again, we are faced with another round of budget proposal and passage phase.
Senate President Bukola Saraki, has already announced the readiness of the Red Chamber to handle the anticipated 2017 budget proposal from the Executive arm in a swift and speedy manner. This is quite splendid and clear departure from the hitherto centrifugal stance by the NASS on budget matters! As such, despite the obvious delay in presenting the Appropriation Bill to the NASS by President Muhammadu Buhari, Saraki's pronouncement was indicative that the protracted delay associated with debating and approving federal budgets in the past, will not recur. What remains and which Nigerians expect from the FG is nothing but balanced and equitable distribution of resources and capital projects to reflect true federalism, equity and justice to all sections of the federation.
As truly assemblage of representatives of the Nigerian electorate, the NASS owes Nigerians an onerous duty to meticulously ensure an equitable allocation of resources to all sectors of the economy, particularly with a view to creating very conducive atmosphere for trade and commerce to thrive; create employment opportunities for teeming jobless Nigerians roaming the streets in search of non-existent white collar jobs through intensified grassroots' skills acquisition programmes to convert these idle minds and hands in the society to self-reliant producers and employers of labour.
Drastic steps must be taken to rehabilitate the collapsed network of federal highways presently constituting real death traps and albatross to free movement of people and goods in some parts of the country, especially those in the South-Eastern geopolitical zone, now in very deplorable conditions. This clarion call is to enable the people in this part of the country also feel a sense of belonging and join other Nigerians to savour the change which the incumbent All Progressives Congress (APC) administration promised hunger battered and long suffering Nigerians during the 2015 presidential election
No comments:
Post a Comment