After a long wait, amidst threats by the National Assembly to override President Goodluck Jonathan on the 2013 Budget, the President on Tuesday signed the Appropriation Bill into law.

According to a statement signed by the Special Adviser to the President on Media and Publicity, Reuben Abati, the signing of the 2013 budget followed several consultations and an agreement between the Executive and the Legislature.

The statement reads in part: “President Jonathan wishes to reassure all Nigerians that the consultations have been in the best interest of the country, and in pursuit of understanding and mutual cooperation between both arms of government.

“As part of the understanding reached with its leadership, the observations of the executive arm of government about the Appropriation Bill as passed by the National Assembly will be further considered by the National Assembly through legislative action, to ensure effective and smooth implementation of the 2013 Appropriation Act in all aspects.

“The administration remains fully committed to the positive transformation of the country, and effective and efficient service delivery for the benefit of all citizens.

“All Ministries, Departments and Agencies of the Federal Government have, therefore, been directed to work very hard to ensure that all the services, projects and programmes contained in the budget are successfully delivered on schedule in spite of the slight delay in its enactment.”
President Jonathan was initially reluctant about assenting to the budget which was forwarded to him on January 14 following claims that the National Assembly increased the budget by moving allocations from Ministries, Departments and Agencies to fund constituency projects.

President Jonathan was also alleged to have, based on the promptings of a senior minister, insisted that corrections on the budget be made in details before his assent.

Besides, the President had at a meeting with the National Assembly leadership raised the issue of the oil benchmark and the non- provision of funds for the Securities and Exchange Commission (SEC) on account of the retention of Arunma Oteh as Director-General of the Commission. The National Assembly leadership had politely declined the request on Ms Oteh and the benchmark, saying that the two issues were non-negotiable but agreed to look again at the mistakes in the details of the budget.

Legislators from the opposition parties had given their intention to initiate moves to override a veto if the President refused to give his assent to the budget by February 13 which made it 30 days after the budget was forwarded to him.


http://www.channelstv.com/home/2013/02/26/jonathan-signs-2013-budget-into-law/

The events in the last few days in the corridor of power are showing that GEJ is in control of political power. Although the leverage for signing if truly he has signed is the money allocated for first lady buildng.smh

...and quarter of the budget will be spent on wife affairs..wasted budgets

Third 2 comment...wots my prize

At last! After all the wheeling, padding and dealings of the appropriation between the executive and legislature, the budget has been assented to! I hope the budget will have a positive ripple effect on the populace, and not be carted away by the ever-swelling cult of looters in the public service! Hope we have up to a 80% budget performance, especially the capital expenditure! We have to put a stop to this democracy of profligacy and outright treasury looting!

Igbayi laaro; ti arugbo sunkun oge. Anyway, better late than never. He should get his attorneys ready for the legal battle as regards the constitutionality of His action.

yokiti: Igbayi laaro; ti arugbo sunkun oge. Anyway, better late than never. He should get his attorneys ready for the legal battle as regards the constitutionality of His action.

That is another angle you just added, we do not know if it is unconstitutional for the president to assent the appropriation bill, after 30 days of its presentation or re-present it to the national assembly? I guess they would have consulted some legal luminaries before taking this decision! Just hope we don't fall into a possible constitutional crisis, because of the greed and self serving interest of our unscrupulous law makers and the wanton profligacy of our executive!

Rexsul: Third 2 comment...wots my prize

..... Hot Slap for trolling!

PRICELESS...

Anyone have the budget presentation?

Okay

May all be well with Nigeria.
See how they delayed d country's budget, cuz of certain organic personal interests.*smh*


We'r doomed with dis crop of politicians, be it pdp, acn, cpc et al, dey'r all d same variants of thieves. *smh*

Which 1 be my own ? I don go sleep abeg before I go dey dose for office

Rexsul: Third 2 comment...wots my prize

Honestly, this whole 1st to comment 3rd to comment crap is becoming irritating.... This forum is not for minors so you guys should shut up if you have nothing meaningful to contribute...

@Moderator please do something about this whole nonsense... For goodness sake, these guys make the threads unbearable...

manny4life: PRICELESS...

Anyone have the budget presentation?

Here it is:
https://www.youtube.com/watch?v=CXaKvi8E_xU
The quality is only 360p though.

Rexsul: Third 2 comment...wots my prize

....u ar an idiot...we ar talking about sensitive mater like dat and all u have 2 say is dat u ar d 3rd 2 coment...ur type dont supose 2 be allowed on nairaland

I hope the MDAs will be able to execute the stated projects to perfection.
Kudos to both GEJ and the National Assembly.

what's your view between last year's own and this year

teeboy4x: what's your view between last year's own and this year

Though the capital expenditure increased from that of 2012, I still beleive that it should constitute at least 55% of the budget. It merely makes up just over 25% of the budget. The country needs massive investment in both maintaining and erecting new infrastructure.

CFCfan:
Though the capital expenditure increased from that of 2012, I still beleive that it should constitute at least 55% of the budget. It merely makes up just over 25% of the budget. The country needs massive investment in both maintaining and erecting new infrastructure.

At least, the power ministry has 90% of its budget as Capital intensive which is good. Who says Nigeria won't be better by force?

CFCfan:
Here it is:
https://www.youtube.com/watch?v=CXaKvi8E_xU
The quality is only 360p though.

Thank you o

manny4life:

Thank you o

You're welcome

The major parts,

Agriculture, N47 billion was budgeted, but N40billion is for capital intensive developments... Oh well let me keep reading.

theshadyexpress: After a long wait, amidst threats by the National Assembly to override President Goodluck Jonathan on the 2013 Budget, the President on Tuesday signed the Appropriation Bill into law.

According to a statement signed by the Special Adviser to the President on Media and Publicity, Reuben Abati, the signing of the 2013 budget followed several consultations and an agreement between the Executive and the Legislature.

The statement reads in part: “President Jonathan wishes to reassure all Nigerians that the consultations have been in the best interest of the country, and in pursuit of understanding and mutual cooperation between both arms of government.

“As part of the understanding reached with its leadership, the observations of the executive arm of government about the Appropriation Bill as passed by the National Assembly will be further considered by the National Assembly through legislative action, to ensure effective and smooth implementation of the 2013 Appropriation Act in all aspects.

“The administration remains fully committed to the positive transformation of the country, and effective and efficient service delivery for the benefit of all citizens.

“All Ministries, Departments and Agencies of the Federal Government have, therefore, been directed to work very hard to ensure that all the services, projects and programmes contained in the budget are successfully delivered on schedule in spite of the slight delay in its enactment.”
President Jonathan was initially reluctant about assenting to the budget which was forwarded to him on January 14 following claims that the National Assembly increased the budget by moving allocations from Ministries, Departments and Agencies to fund constituency projects.

President Jonathan was also alleged to have, based on the promptings of a senior minister, insisted that corrections on the budget be made in details before his assent.

Besides, the President had at a meeting with the National Assembly leadership raised the issue of the oil benchmark and the non- provision of funds for the Securities and Exchange Commission (SEC) on account of the retention of Arunma Oteh as Director-General of the Commission. The National Assembly leadership had politely declined the request on Ms Oteh and the benchmark, saying that the two issues were non-negotiable but agreed to look again at the mistakes in the details of the budget.

Legislators from the opposition parties had given their intention to initiate moves to override a veto if the President refused to give his assent to the budget by February 13 which made it 30 days after the budget was forwarded to him.


http://www.channelstv.com/home/2013/02/26/jonathan-signs-2013-budget-into-law/

:..........on a more serious page,y did our presidoo like woman more dan his country?

Can someone break down the budget and highlight the capital expenditure vis-a-vis the revenue expenditure - and explain if they're running a balanced budget, or a deficit??

Thanks in advance...

shymexx: Can someone break down the budget and highlight the capital expenditure vis-a-vis the revenue expenditure - and explain if they're running a balanced budget, or a deficit??

Thanks in advance...

Technically, they increased the oil benchmark from $74 to $79 because law makers were saying that they needed their constituency projects. One thing is noticeable, the budget shot up by almost $6billion, and Capital projects increased. If you look at the report on the budget office website, certain ministries like power and agriculture, majority of their money is going into capital projects.

@CFC, remember what I was saying ONLY IF GEJ can have a showdown with them like they do here in the U.S., both parties will come to an agreement. That's exactly what GEJ did, after 7weeks of showdown, they agreed. It means we're advancing in our democratic state, the next president will see that NASS shrinks their pay else it will not pass.

CFCfan:
Though the capital expenditure increased from that of 2012, I still beleive that it should constitute at least 55% of the budget. It merely makes up just over 25% of the budget. The country needs massive investment in both maintaining and erecting new infrastructure.

Just 25% of the budget?? That's a reduction from last year's budget, yet we keep rejoicing over the increment in our GDP...

Last year's budget had about 27-30% budgeted for capital expenditure...

Which way Nigeria?? - perhaps, it's electioneering time and all the wolves needed for 2015 need to be fed fat before they go out in full swing in 2014 for 2015...

Beaf should be on his way back to nl soon and Jmaine is about to go back to his full time job...

Money in the bank!!!

manny4life:

Technically, they increased the oil benchmark from $74 to $79 because law makers were saying that they needed their constituency projects. One thing is noticeable, the budget shot up by almost $6billion, and Capital projects increased. If you look at the report on the budget office website, certain ministries like power and agriculture, majority of their money is going into capital projects.

How about education, solid minerals, and works?? - we need serious improvements in those ministries as well...

shymexx: Can someone break down the budget and highlight the capital expenditure vis-a-vis the revenue expenditure - and explain if they're running a balanced budget, or a deficit??

Thanks in advance...

The capital expenditure is #1.6 trillion
Debt service is #591.7 billion
Statutory transfers is # #387.9
Recurrent (non debt) expenditure is #2.3 trillion
Estimated revenue is #3.98 trillion.

From the foregoing, it is clear that the FG will run a deficit. The govt will finance the rest of the expenditures with borrowed funds.

@CFC and shymmexx,

Capital increased by 4% to almost 32%, that's about 1/3rd the budget.

manny4life: @CFC and shymmexx,

Capital increased by 4% to almost 32%, that's about 1/3rd the budget.

Ok. Yeah, I posted the revised budget.
Thanks.

32% is an improvement, but it's still kinda low.

CFCfan: 32% is an improvement, but it's still kinda low.

I know but Baby steps, last year it was 27, this year almost 32% and someone tells me we're not improving.

Meanwhile Madam NOI, drastically reduced our oil contributuon breakdown
Budget is financed as

Budget - 4,924 T

Revenues (oil) - 2,152 === 43%

Revenues (non oil) - 1,739 === 35%

Total =======================78%

Financing and borrowing - 1,037 === 21%