Jonathan presents N4.92 trillion 2013 budget to National Assembly

Addressing a joint session of the National Assembly, the president said the budget which is based on fiscal consolidation has the deficit reduced to 2.17% from 2.85% in 2012.
The budget maintained an oil benchmark of$75 per barrel as provided in the Middle Term Expenditure Framework with a reduction in the recurrent expenditure and increase in the capital expenditure.
The House of Representatives, had yesterday,adopted the recommendation of its joint committee set up to look into the 2013-2015Medium Term Expenditure Framework and Fiscal Strategy Paper insisting on increasing the oil benchmark to $80.
Speaker of the House of Representatives, Hon. Aminu Tambuwal, while giving the vote of thanks on behalf of the National Assembly,commended the president on the visit and for “undertaking this very important constitutional responsibility of the laying of the year 2013 budget estimates”.
He went further to state the president’s conformity with the act that mandates the president to submit the budget three months before the beginning of a fiscal year.
Tambuwal assured the president of the legislatures’ support and commitment to ensure the success and smooth passage of the budget.
He called on the president to look into the ill treatment resolutions of the House receives from the executives and the unguarded utterances of some members of his cabinet.
“I am compelled however to state that the National Assembly is becoming increasingly concerned about the disregard for its resolutions and public comments by certain functionaries of the Executive on same. I cite the Senate Resolution on the Bureau of Public Enterprises (BPE), the House Resolution on the state of insecurity of the nation, requesting Mr. President to visit and brief the House, the House of Representatives Resolution on the Security and Exchange Commission (SEC), the concurrent Resolution of the two Chambers on Bakassi among others. This does not promote cordial relationship between the Executive and Legislature and consequently stability in the polity”.


Source: Channels Television