So after all the huffing and puffing from the National Assembly that usually benefits no one other than News editors, came D-day and an opportunity for our "esteemed" legislators to take the Fin minister to the cleaners - ermm well... With a statement from the Chairman Sen Ndoma Egba the hearing took off, trying to appear like a very serious military commander he issued a stern warning; "This isn't going to be a family meeting, its going to be a Market meeting, Nigerian's want their questions answered". You'd think this was going to be a shouting match with figures flying up and down and our legislatos finally getting to earn a fraction of their Sallah Bonus, for where? Na there their shakara end oh, the rest na Madam lecture and the usual 'agama response'!
To cap it all off, Madam threw a question to the okpolor eyed legislators; Why is the question always about cash disbursement? Why not focus on the actual projects and their respective status like Mr President is doing? Does disbursement of funds translate to execution? You'd think the lawnoisemakers would have thought about this!

Minister of Finance and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, on Thursday appeared before the Senate-Executive interaction on issues concerning the 2012 budget. At the session, the minister gave the assurance that the implementation of the N1.3 trillion budget, which had been a sticky issue between the National Assembly and the Executive, was on course. The minister said the implementation of the budget began in April 2012, adding that although the ministry should have released N446bn by now, only N404 billion had been released. Okonjo-Iweala stated that so far, 56 percent of the capital budget had been utilised while 44 per cent was still outstanding. “There is more room for utilisation. Fifty-six per cent of the funds that has been released has been used, meaning 44 per cent is still available for implementation. “The budget must work for Nigerians. They must feel the impact. That is our focus. “We have been working collaboratively with the National Assembly. We have made sure that salaries have been paid and that we are meeting other obligations.” The minister debunked an assertion by the House of Representatives that she lied to Nigerians on the implementation of the budget by claiming that government had achieved 56 per cent implementation of the appropriation Act. The House had called her a liar on Wednesday at a briefing in Abuja after discovering from documents submited to the Senate by the Federal Ministry of Finance that the performance of the budget as at July was a mere 12.6 per cent. Responding to this assertion, she said, “I think that on the issue of budget execution, I have tried to be as clear as I possibly can. “The appropriations bill there is N1.3 trillion. When you add the SURE programme, you get 1.5 trillion. Non-SURE P budget is N1.3 trillion. “If you prorate the amount of budget, you will get a figure of about N113 billion per month. “If you measure what’s been implemented over the entire budget, you get 13.7 per cent. But because we’re talking about four months, the implementation is 41 per cent.” Okonjo-Iweala also pleaded that the execution of the budget should be kept within January- December, adding that the current practice of extending it to March of the following year should be discontinued. She also said the ministry had been providing funds to Ministries, Departments and Agencies “in bulk,” noting that there had been no selection of projects. “We release resources to MDAs in bulk. There is no discrimination. We don’t have a selective approach. “Some of the constituency projects in the 2012 Budget are new and have not undergone the Proper Procurement Process, which takes time,” she noted. She also said President Goodluck Jonathan had been leading the drive for higher budget performance. More details later

[url]punchng.com/news/okonjo-iweala-appears-at-senate-hearing-clarifies-budget-figures/[/url]

Another version!

But the senate's fury ebbed after Mrs. Okonjo-Iweala apologized for her absence at past invitations citing “miscommunication”, and blamed the media for “mis-educating’ the people.

Finance minister, Ngozi Okonjo-Iweala, who took the center stage of the budget implementation controversy with variant statistics credited to her, calmed an anticipated stormy senate meeting that earlier threatened her with sanctions Thursday, satisfying the lawmakers’ concerns, but barely putting in new statistics to disprove facts that spending performance remained abysmal.

The minister confirmed that while the recurrent budget had been fully implemented, the capital expenditure, which funds developmental projects, remained at about 14 per cent of the total capital.

Of the total N1.3 trillion capital budget, she said, N404 billion had been approved for release while N324 billion had actually been paid out (cash-backed). Of that figure, only N184 billion has been utilized by government ministries and departments.

The same figures had been credited to Mrs. Okonjo-Iweala in previous reports, but she told the lawmakers who mandated her appearance on Thursday, that the statistics available in the news media are largely misleading.

She said even when her office put out such figures in the form of press releases, “sections of the media still twisted them.”

She however reminded the senators the implementation schedule of the budget stood at just four months, having been signed into law in April. As such, she claimed, N404 billion of N1.3 trillion was fairly appropriate.

“I have to make it very clear that there is no difference between what the National Assembly wants to do and what the executive is trying to do with the budget,” she said. “We are only ensuring there is good utility of the released funds.”

Mrs. Okonjo-Iweala said President Goodluck Jonathan, who has been threatened with impeachment by the House of Representatives over the budget, has met with officials weekly to press for efficient use of released funds.

Ahead of the meeting, the senators had been angered by remarks purported to have been made by the minister blaming the tardy fund releases and use on the illicit constituency projects smuggled into the Appropriation Act by the legislators.

A touchy subject, the question of constituency project has earned federal lawmakers severe criticism in the past, and has been constantly cited by the executive as reasons budgets failed.

In 2009, after late President Umaru Yar’adua threatened to seek the Supreme Court's intervention, both arms agreed that N100 billion be set aside for lawmakers annually, to cover projects named by the 469 lawmakers for their constituencies, according to Senate leader, Victor Ndoma-Egba.

Even with the agreement, the procurement, contracting and execution of the chosen projects, were, and are still carried out by the executive.

Mr. Ndoma-Egba said it was troubling then why N100 billion worth of projects should be blamed for the failure of a N4.7 trillion budget.

“We have always been the scapegoat of the Nigerian politics, but what we will certainly not accept is to take the blames of others,” said Mr. Ndoma-Egba, who represented the Senate president, David Mark, at the meeting.

“If, and when others fail in their duties, they should accept the failures; we should not be blamed for it.” He warned the session was not to be regarded as a “family meeting”, but a “market square meeting.”

“We have always worked with the executive, but that does not mean we should be pushed to a situation where we have to invoke our full constitutional powers,” he said.

But the fury ebbed after Mrs. Okonjo-Iweala apologized for her absence at past invitations citing “miscommunication”, and blamed the media for “mis-educating’ the people.

Mrs. Okonjo-Iweala denied the executive had issues with the constituency projects, declaring for the first time it posed no challenge at all.

“We have absolutely no problem with the constituency projects,” she said.

She said, instead, the trouble lied with how funds had been re-assigned across projects and ministries by the lawmakers during appropriation, and the delay ministries faced at carrying out design and procurement for various projects.

The minister assured the budget will be well implemented before year end, and said the executive will not seek the usual extension.

http://premiumtimesng.com/mobile/news/6310-senators_bow_to_okonjo-iweala.html

All the stupid gra gra never end?? Toothless bulldogs! There are just there to fill their pockets...when it seems like the bucket of food is lacking food they will just bark to remind d caretaker dat they are still breathing! Not dat they are barking because they wan tear someone!

The resident cynic species on nairaland will avoid this thread like a plague . . . . .

Even when trying to educate them, they resist simple facts . . .

Iweala did not disappoint as usual

Wetin you go do person wey sabi her work? NATHIN!

Whenever NOI speaks NASS bows.Reason:they dont understand a thing about economics

Let me replay a post that received a standing ovation from some quarters . . .

Wonder what they have to say now . . .

Pukkah:

Are you sure of that? Ah, I have seen that these people lack the grace or the humility to admit that anything is wrong even when it is clearly wrong. In an extreme case of being proved wrong, they simply abandon the thread and run away. Alternatively, they'll find another angle from which to spin another of their unending fables and 'victim mentality' tales.

And this behaviour of theirs should not really be surprising. Afterall, it's so obvious that most of them are mere paid agents, hired cronies, and mercenaries who are appraised by their paymasters, not by the merit of their argument or elegance of conduct, but by how much insult they throw or dumb obstinacy they display.

If Mrs Ngozi Okonjo-Iweala appears tomorrow and admits her error, these guys who have found 'gainful employment' in the art of grandstanding and spinning stories will either spin more 'hate' stories or simply abandon the thread.

www.nairaland.com/1005860/budget-angry-senators-walkout-anyim/2

[size=13pt]Why is it that the question is always about cash disbursements? [/size]

Answer:The Nigerian people want to know how much has been spent, so they can better guage how much RESULTS they should also EXPECT to SEE.

[size=13pt]Why not focus on the actual projects and their respective status like Mr President is doing?[/size]

Interesting that you ask this. Currently, the Nigerian still have NO DIRECT plug in to what projects are already being worked on and the status reports on each one of them. This information does not seem easily accessible via the many websites, agency offices maintained by the Government, or any of the other sources and so, it is sensible for us to at least ask how much money has been spent so, again, we can get a good idea of how much to expect at this point.

[size=13pt]Does disbursement of funds translate to execution? You'd think the noisemakers would have thought about this! [/size]
We like to believe it is so. However, disbursement remains the easiest way for us to get, again, from a monetary stand point, of how much has been spent and the worth of the progress to look out for.

It is really simple. If I give money to my Accountant to help me build a house, and I know my accountant would not be able to give me a rundown of what has been done and when on a regular basis, at least checking my account, I get an idea of how much progress I should expect when I consider how much money has been withdrawn at the point.

Reyginus: Whenever NOI speaks NASS bows.Reason:they dont understand a thing about economics

I tell ya.

.

Kobojunkie: [size=13pt]Why is it that the question is always about cash disbursements? [/size]

Answer:The Nigerian people want to know how much has been spent, so they can better guage how much RESULTS they should also EXPECT to SEE.

[size=13pt]Why not focus on the actual projects and their respective status like Mr President is doing?[/size]

Interesting that you ask this. Currently, the Nigerian still have NO DIRECT plug in to what projects are already being worked on and the status reports on each one of them. This information does not seem easily accessible via the many websites, agency offices maintained by the Government, or any of the other sources and so, it is sensible for us to at least ask how much money has been spent so, again, we can get a good idea of how much to expect at this point.

[size=13pt]Does disbursement of funds translate to execution? You'd think the noisemakers would have thought about this! [/size]
We like to believe it is so. However, disbursement remains the easiest way for us to get, again, from a monetary stand point, of how much has been spent and the worth of the progress to look out for.

Ermm madam, those questions were actually directed at LEGISLATORS who normally make up an ARM OF GOVERNMENT not relatively ignorant and information starved madam Kobo in the USA!

Kobojunkie: [size=13pt]Why is it that the question is always about cash disbursements? [/size]

Answer:The Nigerian people want to know how much has been spent, so they can better guage how much RESULTS they should also EXPECT to SEE.

[size=13pt]Why not focus on the actual projects and their respective status like Mr President is doing?[/size]

Interesting that you ask this. Currently, the Nigerian still have NO DIRECT plug in to what projects are already being worked on and the status reports on each one of them. This information does not seem easily accessible via the many websites, agency offices maintained by the Government, or any of the other sources and so, it is sensible for us to at least ask how much money has been spent so, again, we can get a good idea of how much to expect at this point.

[size=13pt]Does disbursement of funds translate to execution? You'd think the noisemakers would have thought about this! [/size]
We like to believe it is so. However, disbursement remains the easiest way for us to get, again, from a monetary stand point, of how much has been spent and the worth of the progress to look out for.

its good we are all getting on the same page , i said it before rather than throwing lies , insults and black mail up and down lets focus on knowing what projects are on going, which ones have been completed and how much is being spent, if we reduce our insults and lies on GEJ nd NOI we can all focus on getting and sharing those information.

As I was saying . . .

Kobojunkie: [size=13pt]Why is it that the question is always about cash disbursements? [/size]

Answer:The Nigerian people want to know how much has been spent, so they can better guage how much RESULTS they should also EXPECT to SEE.

[size=13pt]Why not focus on the actual projects and their respective status like Mr President is doing?[/size]

Interesting that you ask this. Currently, the Nigerian still have NO DIRECT plug in to what projects are already being worked on and the status reports on each one of them. This information does not seem easily accessible via the many websites, agency offices maintained by the Government, or any of the other sources and so, it is sensible for us to at least ask how much money has been spent so, again, we can get a good idea of how much to expect at this point.

[size=13pt]Does disbursement of funds translate to execution? You'd think the noisemakers would have thought about this! [/size]
We like to believe it is so. However, disbursement remains the easiest way for us to get, again, from a monetary stand point, of how much has been spent and the worth of the progress to look out for.

The Nigerian people want to know these things and their REPRESENTATIVES are there to get them that information.

now its over to beaf and co , govt should have a website where such information can be accessed because a lot of nigerians are not being carried along thats why theirs so much anger and ignorance directed at the presidency and NOI. also it will be good to start getting the information of contractors that were given major contracts especially roads cause most of these contractors are very currupt.

Kobojunkie: As I was saying . . .



The Nigerian people want to know these things and their REPRESENTATIVES are there to get them that information.

Kobojunkie: As I was saying . . .



The Nigerian people want to know these things and their REPRESENTATIVES are there to get them that information.

unfortunately it is a ruse as the reps are actually more interested in money for their constituency projects that has not yet been realesed hence the noise.

meanwhile i love this woman , anytime she speaks everybody shuts up, she has a strenght of a thousand men

wesley80:

Ermm madam, those questions were actually directed at LEGISLATORS who normally make up an ARM OF GOVERNMENT not relatively ignorant and information starved madam Kobo in the USA!

LOL, well said.

Kobojunkie: As I was saying . . .



The Nigerian people want to know these things and their REPRESENTATIVES are there to get them that information.

Madam, do you not find it embarrassing that your REPRESENTATIVES are asking why funds have not been released for their respective constituency projects when in the words of the minister, most of the constituency projects do not yet have engineering designs? Why aren't they demanding to see the quality of projects about to be erected in their respective constituencies before fighting over fund release?

[size=14pt]“Some of the constituency projects in the 2012 Budget are new and have not undergone the Proper Procurement Process, which takes time,” she noted.[/size]

The more reason why you probably should not waste another month. There are only 5 months left in 2012.

Viewing this topic: Sunnystooth(m), pcicero(m) and 3 guest(s)

^^^Hehehe Now what are the chances those three 'guests' up there are some of the foul-mouthed uncouth animals that have been abusing the finance minister and the President all week over something they know diddly about? Too ashamed to show face abi?......i know i would.

This also goes to answer the Minister's questions

sage_: Okonjo-Iweala confirms that 41.3% of 2012 budget has been implemented

The Minister of Finance Dr Ngozi Okonjo-Iweala has confirmed that 41.3% of the 2012 capital budget has been implemented so far and that the implementation of the 2012 budget began in April after it was passed into law.

The Coordinating Minister of the Economy made this known while speaking at an interactive meeting with members of the Senate Committee on Appropriation on Thursday where she stated that President Goodluck Jonathan had been leading the drive for higher budget performance.

According to the Minister, the sum of N1.3 trillion was appropriated for capital expenditure in the 2012 budget and out of this; the ministry has released N404 billion with N324 billion cash backed.

[size=13pt]Dr Okonjo-Iweala also stated that Ministries, Departments and Agencies (MDA’s) have used 56% of the funds cash backed for capital expenditure leaving 44% of the funds unused.

“So far, 56 per cent of the capital budget had been utilised while 44 per cent was still outstanding.”

“There is more room for utilisation. 56 per cent of the funds that has been released, has been used, meaning 44 per cent is still available for implementation” she said.

The Minister explained that, “if you measure what’s been implemented over the entire budget you get 13.7%. But because we’re talking about 4months, the implementation is 41%”

“The Federal Ministry of Finance is not holding back any budgeted funds. The CBN (Central Bank of Nigeria) can confirm that” she added, denying that there has been selection of projects.

The ministry had been providing funds to Ministries, Departments and Agencies “in bulk” she said.[/size]

“We release resources to MDAs in bulk. There is no discrimination. We don’t have a selective approach” she added.

She added that the ministry has so far released N1.6 trillion for recurrent expenditure.

The Minister claimed she was misquoted by the media and that the figures being thrown around on the level of budget implementation are not true.

Constituency Projects

Ahead of the meeting, the Senators had been displeased at remarks purported to have been made by the Minister blaming the tardy fund releases on Constituency Projects added into the appropriation act by the legislators.

On her alleged statements on constituency projects, Dr Okonjo-Iweala clarified her position saying it is not true that the president has told ministries not to implement constituency projects.

According to her, ministries have already launched the procurement process for the constituency projects.

She assured that the execution of the budget would be kept within January-December, adding that the current practice of extending it to March of the following year should be discontinued.

She also promised that the 2013 budget would be submitted to the National Assembly by September this year.

Source: http://www.channelstv.com/home/2012/08/02/okonjo-iweala-confirms-that-41-3-of-2012-budget-has-been-implemented/

Okonjo Iweala for President!
That woman is gold.

Choi! Anytime she comes with the hook, all gladiators go begin dey scamper. Because pesin wey sabi her onions will always make political crooks look dumb

Thanks for virtually turning the NASS into a graveyard for the duration of your 'visit', Ngozi

I always expected it anyway.

kobojunkie, if you have no particularly meaningful contribution, why not read and watch like me?

BoboYekini: kobojunkie, if you have no particularly meaningful contribution, why not read and watch like me?

guy u harsh oo

wow this thread dry pass desert, where are all the attack dogs

bashr8: wow this thread dry pass desert, where are all the attack dogs

Viewing this topic: 2 guest(s)

E just dey like say dem throw atomic bomb for here.

The pathological whiners don clear

Ejiné:

Viewing this topic: 2 guest(s)

E just dey like say dem throw atomic bomb for here.

The pathological whiners don clear

Na guest all of them go dey use peep the thread . . . . . .Their hope's of impeachment bin high no be small . . .

bashr8: wow this thread dry pass desert, where are all the attack dogs

Have you forgotten that this type of news always force the attack dogs to go on leave

BoboYekini: kobojunkie, if you have no particularly meaningful contribution, why not read and watch like me?

Because the bile has to find a way out of her system.