Senate President, Dr.
Abubakar Bukola Saraki, on Monday said that the purpose of a public
hearing on the 2017 budget put together by the National Assembly is to
"increase the efficiency of government and its responsiveness to citizens needs as well as improve overall transparency
and accountability in governance."
Saraki, according to a
statement by his Chief Press Secretary, Sanni Onogu, in Abuja, stated
this while declaring open a three-day public hearing on the 2017
national budget.
It must be noted that
the ongoing public hearing on the 2017 budget is in fulfillment of
Saraki's pledge as Chairman of the National Assembly, to make the
nation's annual appropriation process open for
public participation.
Saraki in his address
at the event organized by the Joint Appropriation Committees of the
Senate and House of Representatives, noted that the event "is the first public
hearing on the Budget that brings together all stakeholders involved in the budget process."
He noted that budgets, "if
well-crafted and implemented, remains the most potent fiscal policy
instrument of government in delivering socio-economic benefits
in an all-inclusive manner.
"The best way to achieve this is to ensure that all stakeholders are
made a part of
the decision-making process especially as it relates to the provision
of public services and distribution of social benefits," he said.
The Senate President further observed that fact that the country is currently at a crucial stage of its development cannot be
overstated.
He said by engaging critical stakeholders and members of the general public to make input into the 2017 budget, the
National Assembly hopes to increase the efficiency of government and its responsiveness to citizens needs as well as improve overall transparency
and accountability in governance.
He added: "You will agree with me that the current state of the economy is
needing of, among others, a credible budget that will stimulate real economic activities, fix our critical
infrastructure and provide cushion for the poor and vulnerable.
"The challenge, however, is how best to ensure that the Budget is utilized as an effective policy in
achieving these. It is, therefore, in
line with this belief that the 8th National Assembly deemed
it necessary to bring Government, Civil Society Organisations, Private Sector,
and other key actors in the economy to deliberate on the Budget proposal.
"Through this engagement, and others to come, we hope to increase
the efficiency of government and its responsiveness to citizens needs as well as improve overall transparency and accountability in
governance," he said.
According to the Senate President, the issues challenging the nation's economy range from low government
revenues, shortages in foreign exchange supply, slowdown
in economic activities, rising unemploymen
He said: "We are all affected in one way or another. With
key economic indicators heading south, there is no better opportunity to reset the fundamentals of our economy.
"What we have before our consideration is the 2017 Budget proposal of
N7.298 trillion, which we believe has been designed based
on a medium-term recovery and growth plan.
"At the various sub-Committees, we are objectively
reviewing the planned expenditures especially as it relates to its feasibility and relevance in delivering
the broad objectives of the Budget which are to: i. Pull
the economy out of recession; ii. Invest in the people of Nigeria; and, iii. Lay
the foundations for a diversified, sustainable and inclusive growth.
"On a more specific note, the 2017 capital budget proposal is
intended to support
activities that will help to speed up the diversification of the
economy and the promotion of the non-oil sector, as well as create jobs
for our youth.
"Accordingly, it is expected that “Made-in-Nigeria” (that is, domestic production of food, materials and other commodities) will be
encouraged. In addition, 2017 capital budget proposal is intended to engender private sector partnership in infrastr
"However, the extent to which the budget proposal will succeed in achieving its
overall objective of pulling the economy out of recession depends on a number of imperatives.
"These include: i. how well the capital
spending targets critical sectors of the economy; ii. how
much of the capital allocation is devoted to real developmental projects as against administrative capital project; iii. the level of detail
provided in the budget that will aid proper oversight of budget implementation; and, ultimately, iiii. the
He
stated that while the government has made efforts to ensure that
provisions in the Budget proposal align with the over-arching goal of
pulling the economy
out of recession and laying the foundations for diversified growth,
"certain provisions are clearly off the path. The Budget must address the critical issues setting back our national growth and development."
He added: "In this regard, the 8th National
Assembly will continue to support government’s economic recovery and growth effort. To
this end, we will ensure that proposed projects and programmes,
and their estimated expenditure are in sync with Government’s priorities.
"Beyond that, we will also ensure that, in
line with the Amended Procurement
Act, a sizable part of the capital expenditure is
"In addition, the National Assembly will continue to focus
on priority Bills that will loosen the structural bottlenecks that are impeding the ease-of-doing business in the country.
"These priority Bills, among
which, include: National Transport Commission bill;
National Road Fund Bill; National Road Authority Bill; National
Inland Waterways Bill; Nigerian Ports
and Harbours Authority Bill; Infrastructure Development Commission Bill, Petroleum
Institution and Governance Bill; Federal Competition and Consumer Protection Bill will unstiffen the
investment climate in critical sectors of the economy.
"What we want to build is a better Nigeria, and we all have
a part to play," he said.
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