₦airaland Forum

The National Assembly yesterday raised concern about the implementation of the N500 billion special intervention fund, a cardinal programme of the Buhari administration.

The lawmakers were categorical that though the plan by the Federal Government to spend N500 billion on vulnerable Nigerians is laudable, its implementation will pose problems.

Chairman, Senate Committee on Appropriation, Senator Mohammed Danjuma Goje, who raised the issue suggested the suspension the plan in this year’s budget.

Goje spoke at a joint session of the Senate and House of Representatives Committee on Appropriation meeting with Minister of Budget and National Planning, Senator Udoma Udo Udoma, Finance Minister Kemi Adeosun and top officials of the Central Bank of Nigeria (CBN).

Goje noted that the meeting became necessary because members of the National Assembly had given March 17th deadline to pass the budget.
He said Udo-Udoma, Adeosun and others were invited to get their final input before the budget is passed.
He also the lawmakers want to pass an implementable budget.

He said the N500 billion special intervention fund’s implementation is not clearly stated in the budget.
Goje, an APC senator from Gombe and a former governor of the state on Peoples Democratic Party (PDP) platform, said how would the beneficiaries of the programme be selected.

He added that there was no doubt that it would turn into a political jamboree for political office holders.
Goje who noted that market women were listed as part of those who would benefit from the fund wondered how market women would be selected.
He said that in his home state of Gombe, there are no market women but market men.

The lawmaker also declared the school feeding initiative planned by the government as un-implementable.

Insisting that school feeding programme is largely unsustainable, he wondered how billions of naira would be spent on feeding pupils when most of them study under trees due to lack of class rooms.
The government, he said, should take a second look at the programmes, fine tune them and leave the implementation for the 2017 fiscal year.

ButUdo- Udoma said the programmes were political promises that should be implemented in the interest of the people.

The minister added that he would take back the concerns raised by the lawmakers to the government.
He said the programmes were commitments that must be done.

On recovered funds, Udoma said only established recovered funds could be put in the budget.
He denied knowledge of a circular directing MDAs to implement only the budget as presented by President Muhammadu Buhari saying “I don’t think that the National Assembly will give us back the budget the way it came.”

Udo-Udoma also insisted that the template of the 2016 budget is zero budgeting.

He added however that “zero budgeting does not mean that we don’t have a limit.”

The minister admitted that the implementation of the budget would be difficult especially with falling oil price in the international market.

He noted that though the price of oil is dwindling, the cost of production remained the same, describing the development as a major challenge.

Udoma told the lawmakers not to increase the size of the budget in order not to make its implementation more difficult.

On the sources of funding the budget, he said the government planned to borrow N1.8 trillion half of which would be foreign loan.

He said the government was now being forced to look inward to raise funds to implement the budget.
The minister said the government is expecting more revenue from non oil sector of the economy including broadening the tax base.

On oil benchmark of $38 pb, he said that benchmark will still be retained despite falling oil price.
The benchmark, he said, was arrived at after wide consultation.

He said that the personnel cost component of the budget is another major challenge for the government.

He noted that though government does not plan to retrench workers, “Government is trying to use technology to ensure that salaries actually go to people who are working.

Mrs Adeosun spoke on how to fund the budget.
The minister told the lawmakers that independently-generated revenue would largely be used to fund the budget.

She noted that cost-saving would be another means to fund the budget.

The lawmakers also drew Udo-Udoma’s attention to the concern of some Civil Society Organisations of about N668 billion frivolous provisions in the budget.

http://thenationonlineng.net/national-assembly-to-buhari-drop-n500b-intervention-fund-from-budget-2016/

so they were able to finally put their own budget in d federal budget.
no sanity in the nation, the will know how to select their own pockets

Ole

The reality is that Nigeria's borrowing for 2016 budget will be well over N2 trillion & spending a quarter of that on poorly articulated welfare scheme that will end up enriching politicians pockets is clearly bad for Nigeria.

All economic indicators are down & still going down, the roof is on fire, drastic & aggressive fiscal measures are highly needed now, not welfare packages.

Watching [color=#006600][/color]

Since i was born n now i am old i have never seen a thife like buhari

NASS is right.

Animal Farm Budget....full of contradictions and confusions!

Nigeria is going down everyday....God pls help us

I'm with NASS on this. No proper data to prosecute this programme except we just want politicians to take control and siphon this money through their cronies. We just need to accept the fact that some of the party's manifesto can't be implemented right now. For godsake we have four years, this programme can be implemented when revenue increase and leakages blocked effectively but not now when we are still delaying in salary payment. We need to see how this N500b will be put into infrastructure to increase our business competitive environment and provide the needed jobs.

GMB is a guy who doesn't have the intellectual rigor and vision to put forth a plan on how to execute his ideas.. He lives in his " good intentions" utopian mindset..
I was hoping that GMB would propose a typical Naija budget of about N4tn AND then propose an economic stimulus bill of about N2tn, that will be focused on infrastructure and job creation

Only those with impaired reasoning would not pick hole in the so called N500b intervention fund. The feeding cum social welfarist programme embarked upon by Aregbesola, for instance did not only throw Osun State into bankruptcy, nothing suggests positive feedback from its implementation. Characteristic of APC as an imperialist party, their only focus is how to win elections in 2019 through unrealistic and deceitful populist policies and some kid-brains would be singing their praises to high heavens. We hope Nigeria would not turn to a failed state under this direction-less govt.

.

#IStandWithNass on this because I don't think there's no data of those that will benefit from the fund. But I see some people going against this as they're seeing it as a way of blocking their pocket.

KAI

Supported. Mr Saint PMB! A man who does not no that the goose chase for corruption and the plans for economic recovery could be achieved concurrently rather than a skewed fake achievement in fighting his opponents!

...government planned to borrow N1.8 trillion half of which would be foreign loan...

Chai!! Our children's children may still be paying back this loan

If NASS pass the budget of fraud,then Nigeria is finished and the war against corruption is just nothing but a political jamboree.
I expect that budget to be withdrawn and so many changes made.
Nigeria is cursed with very unpatriotic leaders!

Chain Nigeria, chai buhari

shameseun:
"The minister said the government is expecting more revenue from non oil sector of the economy including broadening the tax base".

Revenues from non oil sector indeed, when you are killing businesses. Some are closing shops, while some can barely breakeven. Their profit before tax is in nosedive, meaning that FG's projection of borrowing only =N=1.8trl should be increased.

Sometime last year, the custom boss gave assurance that they can even surpass their target. All their projection was on import duties, if and only if importers still import the way they do.

don't mind them

The refusal to devalue is devastating the economy!

mmnnnn, the only thing they can drop is anything for the masses, what about dropping exotic cars in your convoy? smh

Too much yams

grandstar:
don't mind them

The refusal to devalue is devastating the economy!

anyway unless you have load of dollar kept somewhere, devaluation is not in your interest. once Naira is devalued without salary increase, populace become poorer, simple.

shameseun:
"The minister said the government is expecting more revenue from non oil sector of the economy including broadening the tax base".

Revenues from non oil sector indeed, when you are killing businesses. Some are closing shops, while some can barely breakeven. Their profit before tax is in nosedive, meaning that FG's projection of borrowing only =N=1.8trl should be increased.

Sometime last year, the custom boss gave assurance that they can even surpass their target. All their projection was on import duties, if and only if importers still import the way they do.

bros d truth is dey no longer import d way dey use to. imports has nosedived nd im sure u knw d implication for customs revenue

good morning nairalanders

adconline:
GMB is a guy who doesn't have the intellectual rigor and vision to put forth a plan on how to execute his ideas.. He lives in " good intentions" utopian mindset..
I was hoping that he would that GMB would propose a typical Naija budget of about N4tn AND then purpose an economic stimulus bill of about N2tn, that will be focused on infrastructure and job creation

All what you have said is inside the budget. It is you who does not have intellect and discrimination. Infrasturural project based employment was introduced into our national discourse by Buhari and the APC. Before that it was a fake PhD holder tallying up the 200 private jets in his country with the world's third worst HDI and calling it an evidence of a good economy.
200 private jets will employ 200,000 people.

OLADD:
Only those with impaired reasoning would not pick hole in the so called N500b intervention fund. The feeding cum social welfarist programme embarked upon by Aregbesola, for instance did not only throw Osun State into bankruptcy, nothing suggests positive feedback from its implementation. Characteristic of APC as an imperialist party, their only focus is how to win elections in 2019 through unrealistic and deceitful populist policies and some kid-brains would be singing their praises to high heavens. We hope Nigeria would not turn to a failed state under this direction-less govt.

wrong

The feeding program cost about 1,5b whuch is small

What bankrupted the state was a bloated worlforce and reduced earnings from the centre

What rips my heart apart is the weak defence senator Udoma is putting up! Can you imagine? Upon all the concerns raised, all he can come up with is that they are political promises that should be implemented Moreover, PMB has said he won't pay the 5k so it's only appropriate to do the needful, unless they have badd intentions for the money

APC dnt av concrete plan on ground ... Goje is right on this.....