Senate gives NNPC, CBN, FIRS, 34 others one week to submit budget

By Henry Umoru

ABUJA— THE Senate, yesterday, gave a week’s ultimatum to Nigerian National Petroleum Corporation, NNPC; Central Bank of Nigeria, CBN; Federal Inland Revenue Service, FIRS; Nigerian Ports Authority, NPA; Securities and Exchange Commission, SEC, and 32 other federal agencies, to submit their 2017 budget proposals to the National Assembly for appropriation.

The decision of the Senate followed a point of order raised by the Senate Leader, Senator Ahmad Lawal, who drew the attention of the lawmakers to the fact that most government agencies were in breach of the Fiscal Responsibility Act 2007 for carrying out extra-budgetary spending without Senate’s approval.

The Senate, however, reached a consensus on the need to have the budgets of the agencies passed before it proceeds on annual recess.

In his contribution , Deputy Senate President, Senator Ike Ekweremadu, called on the agencies to abide by extant laws and submit their budgets as required.

In his remarks, Senate President, Dr Bukola Saraki, said the directive became imperative to enable the Senate scrutinise and pass the budgets of the agencies before senators embark on their annual recess later this month.

Saraki said: “The budget submission by these agencies must be done within a week. The affected agencies include Securities and Exchange Commission, SEC; National Agency for Food and Drug Administration and Control, NAFDAC; Bureau of Public Enterprises, BPE; National Maritime Authority, NMA; Federal Airport Authority of Nigeria, FAAN; Nigerian Communications Commission, NCC; Nigerians Deposit Insurance Corporation, NDIC; Nigerians Immigration Service, NIS; Federal Housing Authority, FHA; Federal Mortgage Bank,FMB; and Corporate Affairs Commission, CAC.”

 

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