Politics

Lawmakers playing Oliver Twist with 2018 budget – Presidency

Published

7 years ago

June 23, 2018

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The presidency has taken another swipe at the national assembly over the 2018 budget, accusing the lawmakers of not being contended with the N170 billion funds for constituency projects.

Reacting to the national assembly’s claims that alterations in the budget were justifiable, the presidency said it is surprised the lawmakers were cutting allocations of national projects, despite having “enough”.

While signing the budget on Wednesday, President Muhammadu Buhari accused the lawmakers of adding 6,403 projects of their own into it at the “detriment” of other relevant projects.

But the lawmakers responded on Friday, saying the alterations were to ensure equitable distribution of projects across the six geopolitical zones.

However, in its response, the presidency in a statement issued by Femi Adesina, presidential spokesman, said the only increase the lawmakers had suggested was that of the benchmark price by $5, from $45 to $50.

He said the executive is surprised that with an additional sum of N170 billion Naira available for the National Assembly to spend on Constituency Projects, together with the sum of N100 billion Naira, already provided for in the Budget, the National Assembly should feel it necessary to cut allocations to important national projects, and thereby distort the Budget, in order to further increase their allocation for Constituency projects.

“After some consideration, the Executive was of the view that an increase in the benchmark price of crude oil to US$50 was not unrealistic and the President decided to accept this in the spirit of compromise required for a successful budget exercise.”

“The Executive had, in that spirit, suggested that from the additional funds arising out of the US$3 increase, $1.25 from the increase should not be appropriated as expenditure, but utilized to reduce the deficit in the budget.

“The President’s position is clear from paragraph 12k of the President’s speech, where he said “About 70 new road projects have been inserted into the budget of the Federal Ministry of Power, Works and Housing. In doing so, the National Assembly applied some of the additional funds expected from the upward review of the oil price benchmark to the Ministry’s vote. Regrettably, however, in order to make provision for some of the new roads, the amounts allocated to some strategic major roads have been cut by the National Assembly”.