One of our most important duties as legislators is the passage of the annual budget, a critical tool for National Planning.
Over the years both the National Assembly and the Executive have expressed frustration and dissatisfaction with the outcome of our budgets. Nigerians are equally unimpressed by the outcome and implementation of the budget, as most have come with more conflicts than results. Following the last Budget exercise in line with legislative agenda, early this year we directed to review and improve the process.
For us in the 8th National Assembly we are ready to open a new chapter and lay a new foundation on which an effective budget process can be built. This is the task on our hands.
It is a notorious fact that our annual budgets are yet to befully been aligned with our development goals; from conceptualization approval and implementation of our annual budget there is need to converge our budgeting to National planning, continuity, efficiency hence the need to revisit the process.
Government operations are less susceptible to corruption and abuse when they are predictable, transparent and accountable. The 8th National Assembly is determined therefore to implement budget reforms that would help open the budget process to greater scrutiny and openness, creating time roadmaps that would lead to the passage and implementation of our budgets. As part of leading by example, we are at the final stage of releasing of our Senate Budget process.
It is expected that at the end of your assignment the Senate will receive a comprehensive budget reform proposal that will aid the passage of a budget bill that will address the following;
(6) Create performance reports on all aspects of the budget including the budget of the three arms of governments.
Distinguished colleagues, ladies and gentlemen, the tasksbefore you are enormous but you have been chosen in recognition of your expertise, experience and proficiency in this area.
It is therefore my pleasure to inaugurate this committee as follows:
List of the Members of the Committee;
The Committee is to be assisted by a technical committee as follows:
List of the Technical Committee;
Your terms of reference is to -p
I am confident you will do a great job of it. I will be glad to receive your report within the next 2 months giving the Senate a clear and effective budget reform bill for consideration. Hopefully some of this can meet the 2017budget.
With this few words of mine, I hereby formerly inaugurate this committee.