Senate on Wednesday took a swipe at the 2013 budget, describing it as performing below expectations. It however resolved to speedily pass the Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP).
Senate PresidentDavid Mark lamented that keeping external reserve so high at the expense of enormous pressing needs at home is unacceptable.
Passage of the MTEF and FSP of 2014-2016 was sequel to the consideration of the report of the Senate Joint Committee on Finance and Appropriation which was read on the floor of the Senate by Senator Ahmed Markarifi.
Senator Markarfi revealed to the lawmakers that the from the assessment of the joint committee on 2013 budget there is no reasonable progress so far, though the operators gave various reasons to its failure.
According to the report submitted by joint committee of the Senate, an assessment of the performance of the 2013 budget shows that reasonable progress has not been made. Although the operators of the budget have given various reason for the failure of the budget implementation, its impact has remained unimpressive.
” From the progressive, optimistic but caution MTEF and FSP projections and policy objectives over the years, the nation has not moved from old practice of heavy recurrent and light capital projections and subsequent poor implementation of the budget in the years past.” Stated in the report.
After the submission, Senator Olubunmi Adetumbi in his contribution urged the lawmakers not to debate the MTEF and FSP hurriedly because it is a document which has to do with well being of Nigerians, as he sought for more time to study the report before the passage.
However, Senator Nenadi Usman kicked against the postponement of debate on the report, though the former Minister of Finance admitted that there are loopholes that needed to be addressed according to report of the joint committee.
Senator Olugbenga Kaka in contribution called for scraping of Subsidy Reinvestment and Empowerment Programme(SURE-P) because is already government agencies that is in charge of the activities being carried out by SURE-P.
The report presented by the former governor of Kadunna State stated that the statistic on the first and second quarter releases of the 2013 budget including the SURE-P implementation so far, is far from impressive. Not up to 40 percent of the projections for the first half of the year have been realized.
Markarfi said the committee before submission of the report interacted with various stakeholders and both oral and written submission were received from them.
Mark in his submission, however said the document would served as guideline for legislators to make input into the budget.