BUDGETING: FG to revert to Jan-Dec circle in 2020 – Udoma

The Minister of Budget and National Planning, Udoma Udo Udoma has said that the Federal Government will be reverting to the January to December budget cycle, beginning with the 2020 national budget.

The minister stated this in Abuja while defending his ministry’s 2019 budget in the Senate, adding that the executive is willing to comply with the provisions of the Fiscal Responsibility Act 2007 by submitting the Medium Term Expenditure Framework and Fiscal Strategy Paper to the National Assembly on time.

Read also: Despite trillions generated by Customs, FIRS, others, Nigerian govt to borrow N1.6tn to fund 2019 budget

Noting that this would be achieved by collaborating with the legislature, Udoma said the new arrangement would not only make planning easier for both the public and private sectors but would also ensure proper oversight by relevant committees of the National Assembly.

The minister also blamed the delay in submitting and passing the 2019 budget on both the executive and legislative arms of government, adding that both arms of government relegated governance to the back seat because politics occupied centre stage during the 2019 elections.

He said: “I believe that going into 2020, this is a year that we should be able to achieve it. This is the year that we should be able to sit down with the National Assembly and achieve it. The President is determined to achieve it.

“We will be sitting down with the National Assembly so that we can achieve it. And we don’t need to do it by legislation. I think it is better to do it by cooperation, working together.”

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