2020 budget will help fight insurgency, revamp power, others – APC

0
SHARE

The All Progressives Congress on Tuesday said the proposed 2020 budget of N10.33trn would help to fight insurgency, revamp power sector, rail and road infrastructure, among others.

It commended the executive and legislative arms for their commitment to ensure the return of the passage of budget to January-December cycle.

The APC, in a statement by its National Publicity Secretary, Lanre Issa-Onilu, said the budget was aimed at consolidating the gains the Buhari administation had made in revamping power, rail and road infrastructure.

It stated, “It will help in the fight against emerging crimes, insurgency and rehabilitation, rebuilding of the North-East particularly through the newly-established North-East Development Commission, among other critical interventions.”

Quoting the President’s budget speech, the statement added, “There is a renewed government’s commitment to plugging revenue leakage with the continued strict implementation of the Treasury Single Account.

“We congratulate the leaders of the two chambers of the 9th National Assembly –Senate President Ahmed Lawan and Speaker of the House of Representatives, Rt. Hon. Femi Gbajabiamila – for creating a convivial environment for the budget presentation exercise, a welcome departure from the usual tense and adversarial atmosphere of the previous four years.

“The party is confident that the patriotic disposition of the leaders and members of the 9th National Assembly would ensure a cordial relationship with the executive arm, which would surely translate to good governance and proper implementation of the administration’s Next Level plans for Nigerians.”

Also, the Buhari Media Organisation said the budget would go a long way in ensuring that the country finally began implementing its national budget from the first day of the fiscal year.

In a statement by its Chairman, Niyi Akinsiju, and the Secretary, Cassidy Madueke, the BMO stated that the move was in line with Buhari administration’s goal of leaving the country better than it met it.

The statement said, “For far too long, Nigeria has had a budget cycle that runs contrary to what is obtainable in developed economies and other countries on a growth trajectory.”

According to the BMO, in line with his pledge to effect a quantum change in the polity, the President has proved what three predecessors failed to ensure normal budget cycle.

The group said “He (Buhari) did not only dare to be different by sending the MTEF/FSP on time, but also in ensuring that the budgets of the country’s major government owned enterprises are captured in the national budget estimates.

“So, for the first time since the return of democracy, Nigeria is on the verge of having a budget cycle that not only aligns with the business cycle of many financial institutions and other large corporations, but will also provide a leeway for robust planning in the economy.”

The BMO noted that by announcing that emphasis would be on completion of ongoing projects rather than starting new ones, the President has shown his readiness to depart from previous trends where annual budgets focused on new projects.

“Nigerians must have heard him also emphasising government leveraging private sector spending through tax credit schemes, as well as ensuring a reduction in items that are considered as VATable.

“These, among others, show that this is indeed a budget on the philosophy of sustainable and inclusive economic growth and shared prosperity.”

The BMO hailed the leadership of the National Assembly for the convivial atmosphere that pervaded the legislative complex during the budget presentation.

It also called on the Federal lawmakers to ensure that the passage of the 2020 Appropriation Bill in good time to ensure that the Buhari administration’s goal of institutionalising the January to December budget cycle was realised.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.