Indications have emerged that the annual budgetary timing challenge which frustrated both the 2016 and 2017 budget may not rear its head again.
This is coming on the heels of the revelation made by the Acting president, Yemi Osinbajo shortly after inking the 2017 Appropriation Bill into law, showing that preparatory activities for the 2018 budget based on the Federal Government’s Economic Recovery and Growth Plan.
His position seems salutary to the comments by the head of budget Office, Mr. Ben Akabueze who noted that going forward, Nigerian annual budgets will no more pass through the rigors of poor timing both in submissions and passage.
Already, a competent source at the Ministry of Budget and National Planning, confided in our correspondent that processes to ensure that the 2018 budget aligns with the provisions of the ERGP are on to make sure that the financial document is ready for presentation to the National Assembly by early October this year.
Explaining more on the processes to ensure results, the Minister of Budget and National Planning, Senator Udo Udoma, said personnel budget call circular had been issued to those concerned since April and that work had already commenced on the 2018-2020 Medium Term Expenditure Framework/Fiscal Strategy Paper.
It would be recalled that the Fiscal Responsibility Act, 2007 prescribes certain deadlines for budget-related activities, which the government must endeavour to comply with.