My People:Alleluia that Buhari has finally signed the 2016 Budget that he wants/wanted, having thwarted the efforts of the Civil Service bureaucrats and the NASS Appropriations Committee leadership to sell him a bale of wild oats! Kudos for his insistence to maintain the funding for his Agenda for Change.It is ONLY NOW - and when monies start being spent - that his REAL agenda can start in earnest, and he can be held truly accountable. A government that is NOT operating its own budget - particularly after taking over mid-year from an opposition government - is otherwise a potemkin government.There is still going to be some pain, but gain will result by and by....And there you have it.Bolaji AlukoPS: Note that the delay in signing the budget is not the most unusual:Budget Year - Date Signed:2016 - Signed May 6, 20162015 - Signed May 17, 2015 (not publicly signed)2014 - Signed May 21, 2014 (not publicly signed)2013 - Signed February 26, 20132012 - Signed April 13, 20122011 - Signed May 27, 20112010 - Signed April 22, 2010Buhari signs 2016 budget
By Tonye Bakare | 06 May 2016 | 12:31 pmPresident Muhammadu Buhari flanked by Vice President Yemi Osinbajo and Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang during the budgeting signing ceremony at the State House on Friday, May 6, 2016.
President Muhammadu Buhari has signed the 2016 Appropriation Bill into law after an initial rancour between the Executive and the Legislature on some of the contents of the Bill.
"I can't promise that it will be an easy journey, but I can assure this government you have freely elected will work with honesty and dedication," the President said during the budget signing.
He said his government was committed to changing the structure of the Nigerian economy "once and for all," while also commending the sacrifice and resilience Nigerians "who have continued to have hope and confidence of a great future."
The event, which took place at the Presidential Villa, Abuja, was witnessed by Vice President Yemi Osinbajo, Senate President Bukola Saraki, Speaker Yakubu Dogara and National Chairman of the ruling APC John Odigie-Oyegun.
Buhari said at the event that through the 2016 budget, titled "Budget of Change'', the government seeks to fulfil its own side of the social contract.
"The Budget I have signed into law provides for aggregate expenditures of N6.06 trillion,'' he said.
According to Buhari, the budget is intended to "signpost a renewal of our commitment to restoring the budget as a serious article of faith with the Nigerian people."This administration is committed to ensuring that henceforth the annual appropriation bill is presented to the National Assembly in time for the passage of the Act before the beginning of the fiscal year''.
He said that in designing the 2016 budget, the administration made a deliberate choice to pursue an expansionary fiscal policy in spite of the huge decline in government revenues from crude oil exports.
He said that was why it decided "to enlarge the budget deficit at this time, to be financed principally through foreign and domestic borrowings''.
The president noted that all borrowings would, however, be applied towards growth-enhancing capital expenditures.
He also reassured that in spite of the current difficulties the administration would work extra-hard to achieve its revenue projections."Our revenue generating agencies are coming under better management and are re-oriented.
"The implementation of the Treasury Single Account (TSA) is expected to contribute significantly to improving transparency over government revenues.
"Our determined fight against corruption is resulting in improvements in the quality of public expenditure.
"The work of Efficiency Unit, as well as other public financial management initiatives, are also contributing in this regard.
"The continuing efforts to reduce recurrent expenditures should hopefully free up more funds for capital expenditure in 2017 and beyond,'' he added.
Buhari observed that Nigerians were experiencing probably the toughest economic times in the history of the nation and added that he was not alienated from the peoples' struggle.
"I read the newspapers and listen to the TV and radio news; I hear your cries; I share your pains. I want to commend the sacrifice, resilience and toughness of all Nigerians, young and old, who have despite the hardships continued to have hope and confidence of a great future for Nigerians.
"But permit me to say that this government is also like none other. We are absolutely committed to changing the structure of the Nigerian economy once and for all,'' he said.
He said government was working hard to diversify the economy such that the country would never again have to rely on one commodity to survive.
He said the aim was that we could produce the food we eat, make our own textiles and produce most of things we use.
"We intend to create the environment for our young peoples to be able to innovate and create jobs through technology.''
He acknowledged that the journey might not be easy but in the interest of many, government had to tread the difficult path.
"But I can assure you this government you have freely elected will work with honesty and dedication day and night to ensure that our country prospers and that the prosperity benefits all Nigerians,'' he said.
Listserv moderated by Toyin Falola, University of Texas at Austin
To post to this group, send an email to USAAfricaDialogue@googlegroups.com
To subscribe to this group, send an email to USAAfricaDialogue+subscribe@googlegroups.com
Current archives at http://groups.google.com/group/USAAfricaDialogue
Early archives at http://www.utexas.edu/conferences/africa/ads/index.html
---
You received this message because you are subscribed to the Google Groups "USA Africa Dialogue Series" group.
To unsubscribe from this group and stop receiving emails from it, send an email to usaafricadialogue+unsubscribe@googlegroups.com.
For more options, visit https://groups.google.com/d/optout.
No comments:
Post a Comment